Originally Posted By: Dogfish
If you use an equity line to buy a boat, pay off the line when you sell it.

+1 for sure, and I might even go as far as to question whether it would be wise to borrow against your home for a boat at all (provided you have options, of course). A boat loan is probably pretty close to the same interest rate as a home equity line, and the risk is significantly less.

Miss payments on your boat loan, you lose your boat, which would suck. Miss those same payments on a home equity loan, you lose your boat and your house, which would be catastrophic for most.