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Cashout Refinancing

Cashout refinances are one of the most popular types of loans. These loans enable homeowners to tap into the appreciated equity in their homes and use this money to remodel, invest, and payoff consumer debt. This loan can also be used to finance an education or to start a business. This type of loan is popular because homeowners can consolidate their bills and still write off the interest for their income taxes. About 60% of refinances are for the purpose of pulling cash out.

**You should consult a tax adviser regarding the deductibility of interest and charges for the loan**

 

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