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.
Prepayment penalties can be steep, often equal to six month's interest charges on your current mortgage. These often phase out over time, so the bite isn't as bad if you refinance in the fifth year as it would be if you refinanced in the second.