When in need for cash, Americans still prefer to fall back on their trusted homes and like to borrow against the equity in their homes. While people have no qualms about using their homes as piggy banks, their method of doing it has changed and now most people steer clear of the once popular variable-rate lines of credit. Sfgate.com reports:
More borrowers are taking out fixed-rate home-equity loans or refinancing their homes with a new fixed-rate loan and borrowing more than their old balance -- known as a cash-out refi.
Read more: Real estate a handy piggy bank
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