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Second Mortgage and 401(k) Loan Stockton 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.

209 Injured
(209) 465-8733
2453 Grand Canal Blvd
Stockton, CA
 
Consumer Credit Counseling
(209) 956-1170
1776 W March Ln
Stockton, CA
 
Family Matters Legal Services
(209) 941-1066
343 E.Main St. Suite 203
Stockton, CA
 
Attorneys Diversified
(209) 948-6110
306 E Main St
Stockton, CA
 
National Recovery Control
(209) 870-3100
7333 Tam O Shanter DR
Stockton, CA
 
Bydesign Financial Solutions
(800) 750-2227
2291 W March Ln
Stockton, CA
 
Affordable Aid
(209) 477-7000
1201 N Center St
Stockton, CA
 
Help N Hands Credit Assistance
(209) 938-0910
635 N Hunter St
Stockton, CA
 
Bankruptcy Legal Service
(209) 547-8888
343 E Main St
Stockton, CA
 
Allen David & Associates
(209) 473-4800
7400 Shoreline Dr
Stockton, CA