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 ...

What Is a Cash-out Refinance? If you opt for a cash-out refinance, you’ll take out a new, larger mortgage to replace your existing one. You’ll then receive the difference between the two loans as a ...

Buying a home is perhaps the most significant purchase a person can make. But once the home is in hand, homeowners will undoubtedly find themselves in need of making repairs or upgrades to their house ...

Home equity is at historic highs. If you've faithfully paid your mortgage over the years, you've likely built up quite a bit of it yourself. According to the Federal Reserve, American homeowners are ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. While a HELOC comes with a variable interest rate subject to change and ...

Paying down non-housing-related bills or debts, such as credit card balances, and long-term credit score improvement are two benefits from cash-out refinancing, the Consumer Financial Protection ...

Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.