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Show Look at taxes before you leap into refinancing worth a lot more than you paid or it if you put it on the market. By Cecil Scaglioue Mature Life Features is scalating housing prices can be a double-barrele- d boon to home owners. First of all, your home Secondly, you can borrow a lot more on it since your equity has risen with the price. Refinancing or taking out a home loan has been especially attractive since mortgage rates hit lows that hadn't been experienced for several decades. But there is a down side to this maneuver. If you refinance your mortgage, you can lower the monthly payments but you also lower the amount of interest you pay. Since mortgage interest is tax deductible, this affects your annual tax bill. Almost 8 million housea record number holds refinanced their mortgages last year. These taxpayers reduced their mortgagededuction by -interest almost $10 billion and will pay more than $1.5 billion more in taxes, according to some estimates. Taking out additional cash when you refinance will lessen the impact on your tax picture. Refinancing your mortgage or arranging a home-equit- y loan to take advan We e. loanrefinancing. That doesn't mean you should add a swimming pool to your property. You shouldn't expect a 100 percent financial return on improvements you make to your home. There are, however, some renovation that make more economic sense than others. Revamping your kitchen, for example, is acknowledged by most real estate experts as the best remodeling investment you can make. Next comes updating, or adding, a bathroom. Adding a deck, family room, or a second story also can reclaim much of the initial expense. These expenditures also can affect your taxes. Before taking any of the above steps, you might check with your tax preparer. Or go directly to the source on the Internet at www.irs.gov. Beat Any Competitor's Price $19" 60 Whenever Minutes 500 tage of lower interest rates is still one of the most economical ways to improve your economic status. If the interest rate is low enough, it makes sense to make payments for the life of the mortgage rather than pay it off to become debt-freIn many cases, the invest can't you in anymonthly money thing that rivals the interest-rate benefit you get from the mortgage. You also can arrange a line of credit based on the equity in your home. You don't have to use it but it can mean instant cash should you need it for medical bills or an emergency that may arise. You also can use the money from a home-equit- y loan or the extra cash taken when you refinance the mortgage to improve your home and increase its value, doubling up on the economic advances you made through the Weekend Minutes 29" $39" $49" 300 Whenever Minutes Unlimited Weekend Minutes 3000 600 Whenever Minutes Unlimited Night and Weekend Minutes Regional Whenever Minutes '3nce ls determined by specific markets Calling areas will change according to market i . 1 FORCES3390 Leather Case and Car Charger with Suggested Retail Price $49.99 and FREE FREE kit hands-fre- e FREE Paging FREE Voice-Mai- l, I Three-Wa- y Calling lyA?P Page 4 G-Ji- Tl ORION artists, itidudmg Anne Mane arut Garth O6om, ( Fedor, Daivna Barton, Naruy Lund, Rel .Jan Boardman, and Duntc TUmer are setting the to the purchaser) a 40 commission cm each sc displaying their considerabte latent and setting set CLINTON N. 2000 W. 825-952- 6 1966 Davis County Clipper WIRELEV WOODS CROSS 6 1 290 S. 500 W. 200 295-531- 1 I Call WaitingCall Hold, T Mobile ' Lester Let I Caller I.D. authorized dealer A a every activation - NOKIA PHONE SALE You, cost: i FREE I j LAYTON 155 N. Main 336-- 3 ill Senior Tab |