Despite all these cynicisms about pawning an insured house, a home equity line of credit or as some may call it, a loan to pay off creditors can work for some debt-burdened homeowners who have no choice. Just a word of caution, Be sure to do your homework with regards to the background of the lending company as some has a reputation of being dishonest and will likely take advantage of your vulnerable situation into tricking you to having your home foreclosed. To guarantee that the home equity dollars and cents make is fair to all involved, a Bank rate calculator which could be availed online could be of tremendous assistance. This is especially helpful to those who have no background of city laws and policies as they are more likely to be conned by unscrupulous lenders.