In a country up to the brim with consumer debt, Americans are looking for actionable strategies to climb out of the hole. Hundreds of ways exist to get out of debt, but any involve behavioral and lifestyle changes. This leads debtors to refinance their loan, hoping new terms are enough to put them on the right path. But is this always the best solution? Let’s discuss the pros and cons. A Primer on Refinancing Whether you’ve secured debt like a mortgage or unsecured debt like a personal loan, refinancing is always an option for debtors. The exact process may differ depending on the lender, but refinancing essentially replaces an existing…