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HELOC Vs Home Equity Loan: How Do They Work?

Savings Corner

APRIL 4, 2024

Key takeaways Home equity loans and HELOCs are both financing tools that allow you to borrow against your ownership stake in your home. Home equity lines of credit (HELOCs) and home equity loans are two similar finance tools — methods of borrowing money against the ownership stake you have in your home. Home equity loan: What is it?

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

Savings Corner

APRIL 4, 2024

You can use this money for any purpose, including home remodeling , consolidating higher-interest debt , college tuition and other financial needs. Don’t take out more cash than you need, and make sure you’re using it for a purpose that will improve your finances instead of worsening your situation.

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