If you haven't refinanced in the past few years, consider doing so now and use the money you save to reduce credit card bills or redo the kitchen. Home-equity rates are also tempting, and such loans provide tax advantages. It may not turn out to be worth it. And as always, remember that timing is everything in real estate. Though the San Francisco Bay area is no less charming now than it was a year ago, the high- tech meltdown there is already starting to affect home prices.
Clever calculations can help keep the lid on payments.
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