Savings Corner
DECEMBER 23, 2023
As life happens and your needs change, you may find yourself questioning whether your current life insurance coverage is the best fit for you. If you currently have a term life insurance policy but are considering switching to permanent life insurance coverage, you may be wondering if it’s even possible to make the change.
Savings Corner
APRIL 4, 2024
Both act as second mortgages, using your home as collateral, and may offer tax deductions if the funds are used for substantial repairs or upgrades. Some HELOCs come with a conversion option that allows you to set a fixed rate on some or all of your balance. You don’t have to use (and repay) all of the funds you’ve been approved for.
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. Conversely, if the rate is similar or higher to your current one, your payment will go up because the loan amount has increased. That means you have $300,000 in equity.
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