Homeowners who don't have spare cash on hand might be tempted to tap a retirement account to pay off a mortgage. This idea has gained purchase in recent months, as legislation pending in Congress would waive the early withdrawal penalty if money removed from a retirement account were used to pay a home loan.
Still, Rogoszinski and McIntosh advise caution.
"My instinct is not to look at that very favorably, particularly because of how little retirement savings Americans have already," McIntosh says.
One exception: If you're in danger of foreclosure due to a temporary financial setback, a retirement account might be a resource of last resort.
Even then, McIntosh adds, "be very, very careful."