At one time a home equity line was a practical way of doing remodeling, paying for education or even paying off debt. Not that I would have used a home equity line for paying off debt but that was an option for some people. Today, a home equity line can be a burden based on the monthly interest payment on the loan. It has more than doubled in the two years. Is that really surprising to anyone? Not me, everything else has gone up, would this be what you would suspect? Home equity lines still exist, it is a matter of whether or not it is affordable for your situation.
