When people constantly refinance their debt, dont they end up paying more?

Question by RobertG: When people constantly refinance their debt, dont they end up paying more?
I mean unless you refinance a mortgage from 10%(unheard of) to 3.0001, in the first 5 years(also unusual) and pay triple-principal for 18 months, then you’re ending up with interest sitting on the shoulders of interest right?

Best answer:

Answer by Caveat Emptor
Sometimes. What also matters is the term of the new loan compared to the remaining term that was on the old loan.

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