[duxup]

That seems like more of a roll of the dice....

If they're capable of paying back that refinance ... probably could have just saved.

I suppose there is a little window of time where it is advantageous if they're laid off again, that seems more like random chance.

[silverreads]

They got cash while it was easy and certain. Accumulating it slowly would be as uncertain as their employment and expenses, and the option of borrowing later when they really need it may not be available. I can see how it might have been a logical choice for them.