personal financeHome Equity
#RI-69a90c83·2 months ago·
1
“Refinance mortgage with cash”
What Actually Happened
We received a mail offer to refinance our mortgage at 3.85% interest and get 70k in cash. We were considering using the cash to pay off my wife's private student loan and build an emergency fund.
What I wish I knew
"I wish I knew the long-term implications of taking on more debt and how it would affect our financial stability."
Advice to Someone Facing This Now
If I could tell you one thing
"Consider carefully before taking on more debt, even if it's at a lower interest rate."
Regret Index
5/10
Significant downsides.
Complicated feelings about the outcome.
Complicated feelings about the outcome.
Advice for Someone Facing This
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personal finance Category
370
personal finance decisions logged. Avg regret 3.8/10 across the category.
Same Outcome Band
10%
of personal finance decisions land in the mixed band the same as this one.
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