Mortgage rates and advice
in Banking, Insurance & Loans ·
I'm not entirely certain I grasp the exact nuance of what you're aiming for here, but while it is technically possible to use one mortgage to pay off another, it’s generally a losing game from a financial standpoint. To someone feeling desperate, it might look like a lifeline, but much like trying to put out a fire with gasoline, it often just leads to even deeper debt in the long run. You have to realize that in the world of banking, nobody is offering you a helping hand out of pure altruism; everything is driven by their own bottom line.
My advice would be a firm no. It’s better to weather the storm and deal with the current struggle than to drag more lenders or extra resources into the mix...!!!
What does everyone else think about this?
My advice would be a firm no. It’s better to weather the storm and deal with the current struggle than to drag more lenders or extra resources into the mix...!!!
What does everyone else think about this?