I was thinking about applying for second mortgage. This way I could pay off my credit card debt. My friend suggested me that this way I would save money. Still, I would like to know more about it. I am especially interested in potential troubles I could have with second mortgages. What do you think?
My personal opinion is that second mortgages are dangerous, you could find yourself in serious problems. Especially in the long run. Bit, I have to say that your situation is very common. More and more people are choosing this way in order to pay off credit card debts. You could fell into troubles, and I would advise you not to take second mortgage.
