Home Equity Loan - Bad Move?

Google Groups : misc.invest.financial-plan: "We've been hit by the economic downturn and our income has dropped
sharply, leaving us in a difficult position debt-wise.

We are pretty much keeping our heads above water, but have had to
continually tap into our savings to do that...and can't do it much
longer.

We have a house we bought for $270,000 that we believe is worth around
$420,000 now. The mortgage is around $2000/month (6.375% fixed). We
have some other debt as follows: "
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