Cash Out Refinance

Consolidate debt, do those home improvements, get cash for needed expenses. Home equity lines (HELOCS) are no longer tax deductible* so it makes sense to refinance both the first mortgage and the Home Equity Loan into ONE fixed rate, fixed term, mortgage to get all the benefits. Remember, Home Equity Lines may start of cheap with an interest only payment for a few years, BUT the adjust with Prime and will soon require a Principal PLUS Interest payment that might shock your finances!