While millions of U.S. homeowners have negotiated lower monthly mortgage bills in an effort to avoid foreclosure, Cecelia Kirchman happily added $250 to her payment when she refinanced last August. She is among the growing number of “equity builders” -- creditworthy homeowners with steady jobs and enough cash to lock in near record-low interest rates and shorten the length of their loans. Other homeowners are opting for what’s known as a cash-in refinancing, in which borrowers write a check at the closing to shrink the amount they owe on the property.
Remodeling
Source: Bloomberg BusinessWeek
