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

Savings Corner

Cash-out refinances are generally best for big-ticket costs: Think home renovations or major debt consolidation. You can take advantage of tax deductions: If you use the funds for home improvements, you could take advantage of the interest deduction. This can be a boon for your credit score. There are no limitations.

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A Goal Without a Plan is Just a Wish

Family Balance Sheet

The building offered so much potential, but needed a lot of work and we set out to renovate our dream office. The business softened, renovations were more costly than expected, and we were now the owners of two mortgages, our home and our business. We were excited to cross this accomplishment off our bucket list.

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HELOC Vs Home Equity Loan: How Do They Work?

Savings Corner

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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P.E.P. for Week of January 31- February 4/11- Superbowl Edition

Prairie Eco-Thrifter

Most of the conversations we had with each other over the three months was what trades to make and who was an early pick up. Bucksome Boomer shares with us 9 tips for tax time that will save us from forming those wrinkles. Renovations can get expensive too. As far as what team I am rooting for, well, that would be THE PACK!

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