Totally get where you’re coming from. I did a debt consolidation mortgage a couple years back and yeah, the lower payment felt like a relief at first. But then I realized I’d basically stretched my debt over a much longer period, and the interest added up more than I expected. It was easier to manage month-to-month, but looking at the total cost made me cringe a bit.
One thing I’d throw in—sometimes people forget about the closing costs and other random fees that sneak up on you. Those can eat into any savings pretty quick. On the flip side, if you’re drowning in minimum payments and just need breathing room, it’s hard to argue with the simplicity of one payment.
I guess it comes down to what you value more: short-term relief or long-term savings. Not everyone’s in a spot where they can pick “optimal” over “survive another month,” and honestly, that’s just real life sometimes.
