Taking cash out of your home

By Bankrate.com

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 . . .

Should you refinance your mortgage?

Bankrate.com's loan calculator

Home equity loans vs. lines of credit

Should you borrow from your home equity?


-- Updated: April 11, 2005

Home Equity

Compare today's rates

NATIONAL OVERNIGHT AVERAGES

$30K HELOC	5.17%
$50K HELOC	4.81%
$30K Home equity loan	7.62%

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