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

Savings Corner

A cash-out refinance turns your home’s equity into cash by replacing your current mortgage with a new, larger mortgage. You can use this money for any purpose, including home remodeling , consolidating higher-interest debt , college tuition and other financial needs. That means you have $300,000 in equity.

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Resolve to Regularly Discuss Your Finances with Your Spouse

Family Balance Sheet

But for the two of us to achieve our financial goals, we need to have money conversations and they need to be done regularly. Money conversations aren't always easy to have, yet I feel that for me and my husband they are so imperative to the stability of our marriage and our home. Column E = Monthly debt payment.

Finance 138