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Taking cash out of your home

People are squeezing cash out of their houses to consolidate loans either through home equity loans or cash-out refinancing. What are the pros, the cons and the costs involved?

 
Financial blessing or potential pitfall . . .
Cash-out refinancing -- here's how it works
Explore the options before heading out to refi your castle.
 
Yes! Use home equity to consolidate debt
Bankrate financial expert George Saenz says convenience, lower payments and a tax break all make it smart to tap home equity to consolidate debt.
 
No! Don't use your home equity to consolidate debt
Keep your cotton-pickin' paws off your home-equity nest egg, says financial expert Dorothy Rosen.
 
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Frequently asked questions . . .
Inquiring readers ask about leveraging home equity.
 
Calculate it . . .
 
 
  Home equity loans vs. lines of credit
 
 

 

 
-- Updated: April 11, 2005
     

 

 
 

 

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Home Equity
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
$30K HELOC 4.29%
$50K HELOC 4.04%
$30K Home equity loan 5.09%
Rates may include points



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