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Mortgage Refinancing: What Is It And How Does It Work?

Savings Corner

Key takeaways Refinancing replaces your current mortgage with a new one, adjusting the rate, term or both. With refinancing, you can change the loan type as well as your lender. Here’s how refinancing a mortgage works, the common options available to you and pros and cons to consider. What is refinancing?

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Get your FREE Family Balance Sheet Excel Spreadsheet

Family Balance Sheet

Back in October 2003, I left a corporate career as a department store buyer with a nice reliable paycheck and benefits– including health insurance –to join my husband in the land of self-employment. The spreadsheet listed our short-term and long-term account balances, our debts, and our short-term and long-term financial goals.

Family 100
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Saving Tips & Free Crediting Monitoring

For the Mommas

Saving more (52%), spending less (19%) and paying off debt (19%). According to the Wall Street Journal, 88% of resolutions fail, so the key here is to set small, achievable goals that add up to a whole lot of savings. There are websites out there that will allow you to set a goal. Paying Off Debt.