You will have to prove some sort of hardship – unless you are one of the top bosses.
But be careful – some plans only allow you to take 50% of what you have in the account.
There is no penalty for the 401K hardship LOAN.

If you take the money out for good – you will have to pay taxes and the 10% penalty.
Note – this distribution could knock you into a higher tax bracket so save up a bit for tax time.
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Only if you are in danger (have been notified) of pending foreclosure on your principal home. If you're about to lose your house, you can take money out without penalty, but you still owe the income tax on the amount you withdraw. you can use a limited amount of 401k money to pay off bills to avoid eviction from your home or apartment.

Read more: How to Withdraw 401k Money With No Penalty | eHow.com ehow.com/how_2075556_withdraw…