Texas didn’t used to allow HELOCs

now they do, but you can only borrow I think 50% of your equity. On one hand, it helped Texas survive the foreclosures, on the other hand, it is my money tied up in an asset that could have large equity. I think as long as the percentage of how much you can take out leaves some equity, a responsible person should be able to use the money for home improvements or medical bills, but not to buy a car or vacation or some other use that has no value.