Savings Corner
APRIL 4, 2024
You can use your equity to renovate some rooms, pay off credit cards, cover college tuition, start your own business … or almost anything else. Cash-out refinancing: With a cash-out refinance, you replace your existing mortgage with a new, larger mortgage. Home equity can be a valuable resource for homeowners.
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. Many borrowers use them to pay for major home repairs or renovations, like finishing a basement , remodeling a kitchen or updating a bathroom. homeowners as of year-end 2023.
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