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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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5 Sources for Quick Funding

Prairie Eco-Thrifter

Home repairs and other payments will have to be made for those affected by tornados, volcanos, floods and earthquakes—and quickly. If someone is undergoing any of these situations and have exhausted their options, including using tricks to save more money , then maybe it’s time to look into additional sources for quick funding.

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HELOC Vs Home Equity Loan: How Do They Work?

Savings Corner

And, as with your primary mortgage, you can expect closing costs whether you choose a home equity loan or HELOC. Many borrowers use them to pay for major home repairs or renovations, like finishing a basement , remodeling a kitchen or updating a bathroom. Hence, the interest in home equity loans and HELOCs.

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