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NEW YORK (CNNMoney. you may continue to deduct the interest you pay when you borrow against your home equity. Here’s the deal: Despite their names, home equity loans and home equity lines of credit.
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A home loan with an interest rate that remains the same for the entire term of the loan. Adjustable-rate mortgage (ARM) Also called a variable-rate mortgage, an adjustable-rate mortgage has an interest rate that may change periodically during the life of the loan in accordance with changes in an index such as the U.S. Prime Rate or the London.
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