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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. Home equity loan: What is it?

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The Danger In Assuming

Prairie Eco-Thrifter

Unfortunately the recession of 2008 was not an isolated incident. To buy a home under the assumption that you’ll some day make a profit from it or rely on one source of income assuming it’ll always be available to you is financially foolish. They can come in the form of a health scare a home repair or otherwise.

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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. By exercising at home instead of paying gym fees we saved $600 per year for 17 years ($10,200). By feeding our family of four at home for 20 years we saved $168,768. 40,720 Home Repair.