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Second Mortgage and 401(k) Loan Modesto CA

I have thought about taking out $50,000 out of my 401(k) to pay off my second mortgage. My thought behind this is that I will be paying myself the interest rather than the bank. I have calculated what the payment would be and can afford this. Why does this sound too good to be true? You may be able to get a better interest rate, but that's the only good thing about the idea, says the Debt Adviser.

We The People
(209) 523-8227
1347 Mchenry Ave
Modesto, CA
 
Affiliated Consumer Control
(209) 572-3051
Po Box 5052
Modesto, CA
 
Altman Steven
(209) 521-7255
1127 12th St
Modesto, CA
 
Abbott Michael Law Offices
(209) 847-1403
1021 14th St
Modesto, CA
 
Modesto Paralegal Services
(209) 521-9447
140 Mchenry Ave
Modesto, CA
 
Legal Recovery Services
(209) 529-3393
1500 Standiford Ave
Modesto, CA
 
Cunningham & Lansden Attys At Law
(209) 523-1771
515 13th Street
Modesto, CA
 
Stanislaus Credit Control Service
(209) 523-1813
914 14th St
Modesto, CA
 
Anderson Tom L Attorney At Law
(209) 579-5555
1300 H St
Modesto, CA
 
Alexander Mark J Law Office
(209) 577-1646
1500 J St
Modesto, CA