Question: My wife doesn't work anymore and she has a 401(k) of about $80,000 from an old job. I have been kicking around the idea of taking that money out or rolling into an IRA so that I can have better access to this money. Given the interest rates I want to purchase a new home and would like to leverage this money as a down payment if it makes sense. Thanks for the help.

Answer: 
Don't borrow from your future to live in the present.
It's not your money. What does your wife think of this? 
You know, the withdrawal is subject to full tax at your marginal rate as well as a 10% penalty. That's quite a price to pay, don't do it.