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Second Mortgage and 401(k) Loan Redding 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.

Fiscal Credit Union
(818) 553-8200
310 E. Colorado Street
Glendale, CA
 
Credit Bureau Services
(530) 673-5050
589 East Ave
Chico, CA
 
Anderson Tom L Attorney At Law
(209) 579-5555
1300 H St
Modesto, CA
 
CCA Collections Agency
(530) 894-5779
1050 Columbus Ave
Chico, CA
 
Valley First Credit Union
(559) 275-3944
3434 W. Shaw Ave.
Fresno, CA
 
Sorensen Patricia Law Offices Of
(714) 558-1499
2677 N Main St #930
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Debt Settlement Professionals, Inc.
(925) 736-7036
3446 Silver Maple Drive
Danville, CA
 
Attractive Credit Inc
(619) 656-8300
2521 Windward Way
Chula Vista, CA
 
Credit Fix Now
(714) 558-1000
1850 E 17th St
Santa Ana, CA
 
Attorneys Diversified
(209) 948-6110
306 E Main St
Stockton, CA