Quote:
Originally Posted by Blueface
DON'T refinance your home to pay off credit card debt and automobiles. NEVER do that. If you do, you have converted that credit card debt that they could not take your house away for into the debt of your home, which you can now lose. NEVER use equity in your home to pay bad debt. Always refinance your home ONLY to lower your mortgage, to help you pay the house off faster and reduce interest charges.
|
Converting short term debt to long term debt is rarely a good idea... Unfortunately, too many people use credit to buy things they can't afford. One of the reasons we're in this mess to begin with
