Christina Zelow Lundquist/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways A cash-out refinance replaces your current mortgage with a new, bigger one and converts the difference between the two balances into cash. The terms…

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Image: Getty Images; Illustration: Bankrate Key takeaways If you’re buying a home, an appraisal waiver can help you avoid the cost and time commitment of an in-person home appraisal. Instead, your mortgage lender will use an automated underwriting system to estimate the property’s value. However, automated systems can’t catch all…

This page was originally published in early 2022 and still contains relevant reader quotes from that time. The rest of the article has since been updated. Key takeaways Hotels can charge you for damages done during your stay, which are usually found while inspecting your room after you check out.…