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Using home equity to pay off your mortgage? Heres what experts think

The recent surge in home prices has left the average American homeowner with about $300,000 worth of home equity. And, that amount grew by an average of $24,000 in 2023, $14,300 in 2022, $64,000 in 2021 and $26,300 in 2020. While the home equity increases mean larger gains when you sell your home, they also grant you access to larger …

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