Drawbacks in Refinancing Home Mortgage and Cash Back Loan?

Question by jacob: Drawbacks in Refinancing Home Mortgage and Cash Back Loan?
Hi,

I am interested in refinancing my home mortgage and getting a cash back loan. What are the drawbacks to this? Will it affect my credit?

Best answer:

Answer by chase
best not to borrow. refinancing may lower you current monthly payment, but in the long run it will cost you more. best to buy everything with cash, even a home. Living debt free is best.
having no loans

What do you think? Answer below!

This entry was posted in Q&A and tagged , , , , , , . Bookmark the permalink.

One Response to Drawbacks in Refinancing Home Mortgage and Cash Back Loan?

Leave a Reply

Your email address will not be published. Required fields are marked *