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Cash-Out Refinancing: How It Works, When To Do It

Savings Corner

You can improve your credit: If you use your equity to consolidate debt, your credit utilization could drop. You can take advantage of tax deductions: If you use the funds for home improvements, you could take advantage of the interest deduction. Will I have to get a home appraisal for cash-out refinance?

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Meet a Reader | JenRR from the Midwest

The Frugal Girl

After I became a mother, finances became much more complicated. Besides dealing with my sudden unemployment when my oldest child was a toddler, I was hoping to figure out a way to extend my time at home with him. We ending up buying our current home in 2015, when local prices and interest rates were significantly lower.