Your home may have been an expensive ATM machine. When the Portland real estate market was hot, the fees for refinancing and equity lines seemed minor compared to the cash that it could release, us included. Some of the money went to house related projects, some did not. Here’s the rub and you need to contact an accountant if you think this may apply to you: if you took money out of your home and used it for anything not related to the house, you may owe the IRS taxes on that money if you lose the home to a short sale or foreclosure.  Bankruptcy may not discharge the taxes owed or could create additional liability.  Again, consult an accountant.