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Pros And Cons Of A Home Equity Line Of Credit (HELOC)

Savings Corner

If you qualify for the best rates, a HELOC can be a less expensive way to consolidate debt or finance a home renovation. Possible tax-deductible interest Even after the Tax Cuts and Jobs Act of 2017, you can still deduct interest paid on a HELOC if you use the money for home renovations. This helps keep your payments manageable.

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2019 Debt Freedom Plan Update

Family Balance Sheet

We ran the numbers of the purchase and they looked great on paper, but paper doesn’t account for a new server, a roof leak, unexpected medical bills, and other calamities. 2016 & 2017 Update. 3 – Cash flow necessary business expenses and renovations. We were trying to be responsible. 1st Update in June 2014.

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How We Paid off Six Figures of Debt

Family Balance Sheet

Aside from the mortgage, we also added equipment and renovation loans with the purchase, and we had a student loan. This side hustle income was mainly used for the fun stuff, such as camping, home renovations & repairs, and needs for our kids. An Update on Medi-Share – September 2017. What could possibly go wrong?

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