Paying for college tuition

Cashing out equity to pay for college is something many different mortgages can accomplish. Depening on your current first mortgage, you may want to consider a second mortgage either a fixed or HELOC. The HELOC would allow you to take out money as you need it, which would keep the monthly payments down as long as you managed the balance appropriately. A second fixed mortgage may be the smarter play, with a large lump sum immediately and a fixed payment moving forward. Or if your first mortgage could use a revamp or benefit from the current market, maybe you refinance pulling cash out. If this is your goal and you have equity, you have a lot of options in front of you.

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