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Are you considering a HELOC (home equity line of credit)? A HELOC is a borrowing instrument that allows you to use the equity in your home to borrow against. My wife and I talked about this and did some research, and this is the information that I found on the subject that I want to share with you today.   Personally, I think that the scariest thing about a HELOC is that your house is on the line. If you don't make the payments, your house is in serious jeopardy. Some folks ignore this risk and focus on the benefits of a HELOC, a couple of those benefits being lower interest rates than a straight personal loan as well as tax deductions at the end of the year. After looking into this, I feel that the benefits simply do not outweigh the risks when it comes to a HELOC.   Also, if you are using a HELOC to consolidate credit card debt, you are likely turning unsecured debt into secured debt. The credit card companies get their money, so they're happy. However, if you fail to pay the HELOC, you have your home secur