Thinking about doing this......

[HeavenLeigh]

There's a lending co nearby that is offering money at good intrest rates.
I could get a $50K loan, pay off my 4runner and credit cards, and build on to the house and my payments would be less than what I'm paying on the 4runner a month.

Has anyone done this? Should I try it?

[missyk]

I've recieved some of these offers but when I called I found out it was too good to be true. Alot of times they'll say "Loans with 2.9% interest" but what it really is is an introdoctury interest rate, and after a year or less it shoots up to as high as 22%. It doesn't hurt to call and find out, but just be sure to ask if the interest rate is fixed. Also ask what happens if you are late on a payment, because they may be able to increase your interest rate in that case too. Just make sure that the rate you sign on with can not be changed under any circumstances. If that's the case (and there are no hidden fees), I think its a great idea.

[veda]

I'd be leary b'c thats just how i am... but if it would be beneficial to you & it's a trustworthy co thats been in existance for several years i guess check it out. not to sound like your mama, but just be super careful with this kind of stuff K, too many scammers out there. hope it really is something that can help you, how great would that be, eh? :crossed:


edited: maybe ask your accountant or financial advisor (or hire one temporarily) what they think of all of the fine print & your existing debts??