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HELOC Vs Home Equity Loan: How Do They Work?

Savings Corner

Key takeaways Home equity loans and HELOCs are both financing tools that allow you to borrow against your ownership stake in your home. 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. HELOC: What is it?

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Can You Cut Expenses by a Half Million Dollars?

Prairie Eco-Thrifter

With the advent of the Great Recession, today’s populations are re-learning frugality and expense reduction. The strategies did keep us out of debt however, and instilled in us habits of self-reliance, attitudes of ‘we can do that’ and a measure of life-long thriftiness that we might not otherwise have had.