MoroccanBoy
Madness
It's a vicious circle
Taking out a loan to pay off a loan unapreciation
- Thread starter MoroccanBoy
- Start date
It's a vicious circle
Beedad
All Star
Indeed 
Treblemaka
President, BYNKRadio.com (Retired)
Companies and people do it all the time. Its called debt consolidation and it isnt necessarily a bad thing.
Is the interest rate on the second loan lower than the first?
Yes =
No =
Is the interest rate on the second loan lower than the first?
Yes =
No =
MoroccanBoy
Madness
Companies and people do it all the time. Its called debt consolidation and it isnt necessarily a bad thing.
Is the interest rate on the second loan lower than the first?
Yes =
No =
No
Companies and people do it all the time. Its called debt consolidation and it isnt necessarily a bad thing.
Is the interest rate on the second loan lower than the first?
Yes =
No =
This, if the interest rate is lower it's well worth it.
that's basically what a refi is. Taking out a new loan to pay off your old one at a lower interest rate. That's smart money 