Savings Corner
DECEMBER 27, 2023
When Downing took a home equity loan to build a pool at her home, she says she kept the loan money in a separate bank account so when the first payment came due — 25% of the project’s cost, Downing says — her everyday checking account didn’t take the hit. It comes down to your preference, she says, “and maybe just your own discipline.”
Savings Corner
APRIL 4, 2024
The RIIR (the rise in interest rates) throughout 2022 and 2023 — particularly mortgage rates, which have doubled since their mid-pandemic lows — have decimated the appeal of cash-out refinancing, once the go-to way to tap a homeownership stake. Read the fine print on the site to confirm.
Savings Corner
APRIL 4, 2024
Income verification: You can provide a pay stub, bank statements, tax returns or even 1099 forms if you’re self-employed. Credit card refinancing loans: Some companies specialize in loans for people looking to pay off credit card debt. Alternatively, you may have to apply in person at your local bank or credit union branch.
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