Home Equity Loan

You shouldn't, if you live within your means, like responsible people do.

If you get in a position that you must borrow money, then a home equity loan might be the lowest interest rate and the best payment terms that you can obtain. You should protect your equity like you do any other asset you have but sometimes people have good reasons to borrow. What you should avoid at all costs is going on a spending spree using your home equity.