This may sound a fanciful scenario, yet recent events across Europe â including the looming independence referendum in Scotland â tell a very different story. Six days ago, the people of Spainâs most prosperous region, Catalonia, voted overwhelmingly for parties favouring the breaking away from Spanish rule.
1 If you are 55 or older and retired, you can withdraw from your TSP without being charged the 10% tax penalty (which is normally tacked onto early withdrawals) in addition to regular income taxes.
Your current lender may also have restrictions on how soon you can get out of the mortgage, usually in the form of prepayment penalties. Look out for prepayment penalties. Some mortgages come attached with prepayment penalties if you refinance or otherwise pay the loan off in the first three to five years or so.