[Always Right]

This is just horrible. This guy bought a home for $129K and it is now worth over $400K. The guy has used this money to travel around the world, buy SUV's, and make many bad investments and he still has equity in his house. What a tragic story.

[goldstategop]

People have used their home as a piggy bank. You can basically use the money tied up in the house as income and spend it or invest it how you please. When it comes time to repay the line of credit you can either pay it back from your income or from your investment proceeds. Its a way of living beyond your means. A reverse mortgage works on the same principle except it doesn't have to be paid back right away.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." -Manuel II Paleologus