Savings Corner

DECEMBER 24, 2023

One of the biggest benefits of a personal loan is that they often charge lower fixed interest rates when compared to other forms of lending, like credit cards. Repayment terms: Repayment timelines vary for personal loans, but consumers are often able to choose repayment terms between one and seven years.

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Savings Corner

DECEMBER 25, 2023

Cash-out refinances are helpful with major expenses, because you generally can borrow much more than you could with a personal loan or by using credit cards. Time-consuming. Cons of a cash-out refinance Foreclosure risk. Potentially higher interest rate. You can also explore a HELOC or a home equity loan.

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Savings Corner

APRIL 4, 2024

Key takeaways A home equity loan allows you to borrow a lump sum against your home’s equity, usually at a fixed interest rate that’s lower than other forms of consumer debt. While high compared to their average of six percent in 2022, that’s significantly lower than other forms of consumer debt. to 10 percent.

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Family Balance Sheet

SEPTEMBER 9, 2014

About $52,000 of that $147K was consumer debt (credit cards, a student loan, a car loan, a home improvement loan, etc.) We just wanted to pay off our credit cards, which seemed like a huge task since we’d struggled with it for years. The rest was our house. I mean, we didn’t even think of it!

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