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Reply to "Need advice on refinancing"
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[quote=Anonymous]I would just do a HELOC. You already have a good interest rate so you wouldn't gain much by refinancing. I wouldn't worry about the ARM unless you are sure you will keep the house for a good amount of time, or you want to extend the term. For the amounts you are talking about, your interest payments on a HELOC would be tax deductible, which (assuming your income is over the threshold, which it probably is given you have a million dollar house) your student loans are probably not. Then I would do what you can to cut expenditures and increase income to pay it down quickly.[/quote]
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