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Advantages of Cash Out Refinancing So why do people elect to get cash out? Many manufactured home refinance customers use cash out for debt consolidation, home improvement, or for future investments. To avoid paying high interest rate credit cards, homeowners often pull cash out of their homes to pay off those bills. Instead of paying a 20% interest rate or higher on a credit card each month, you can pay off that balance using your mortgage and pay at record low interest rates. Other manufactured homeowners may pull cash out to make improvements to their home that will increase the value significantly, lower their overall loan-to-value and increase the equity in their home. Others will pull cash-out if they feel they can invest that money at a better rate of return than the actual interest rate.. |
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