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Sarah - thats the best way to use these loans
I just took another one as a second mortgage to pay off other high interest stuff - if you have a good rating (point score high) you can get them as low as a point or so over prime. If you have a higher interest rate on something else this definitely saves money - but only if you can pay it off quickly.
If youre in the US, I dont think you have to worry about the rates dropping anytime soon - but if you can get it - you should at least cover your ass and get one that follows the prime rate
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