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Cash-out refinance: What it is and how it works

A cash-out refinance replaces your current mortgage with a new, bigger one that converts some of your home’s equity to cash. The terms of your refinanced mortgage might significantly differ from your ...
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Pros and cons of a cash-out refinance

A cash-out refinance offers benefits like access to money at potentially a lower interest rate, plus tax deductions if you itemize. On the downside, a cash-out refinance increases your debt burden and ...