It's like they know you. lol!
Following are five situations that represent reasons not to use your HELOC as a source for funds.
1. Paying for a Vacation
Any time you use debt to pay for a vacation or to fund leisure and entertainment activities, it means you are living beyond your means. Although it is cheaper than paying with a credit card, it is still debt. If you generally can’t control your spending – or you rely heavily on debt to fund your lifestyle – borrowing from home equity will only exacerbate the problem.