Home Equity Lines

Why are home equity lines so popular? The only useful type of home equity line is when the client is doing an 80/20 loan where they don't want to pay the MIP or PMI on their mortgage. Or for investment purposes. Taking out home equities to buy boats, even something like finishing your basement. One is so much better off saving their money and then using it towards their WANTS then taking out more credit, especially on your home. I have seen quite a rise in foreclosures due to people taking out home equity lines to improve their home and then end up spending it on a RV or Boat instead. One of the best feelings of freedom one could achieve is total financial freedom. Start with the high bills, biggest interest rates and amounts and start paying that down. A budget is a huge thing to recieve financial freedom, budget then stick to it. Once you paid down that first high bill take the payment you were doing on that bill and transfer it to the other bill so you can pay it off faster. Continue until you only owe on your mortgage. Then take those and continue, one should be able to have their mortgage paid off in 15 years if they pay off all other bills and didn't buy a home above their means.