As part of an economic stimulus package, I feel that the Federal Government should offer a one-time opportunity for retirees to withdraw from their retirement accounts, funds sufficient, if available, to either pay off a current mortgage or purchase a new residence mortgage free. The withdrawn funds should not be taxed as income. Any property paid off or purchased utilizing the withdrawn tax free funds would be required continued ownership for a minimum of ten years or they will have to pay the taxes on the funds they withdrew. There has been several tax breaks available in past that were targeted at new first time buyers. It is time for a break for those of us that have worked all our lives to pay on a mortgage.
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