Here are eight reasons why the recession shouldn't be blamed on the lifestyle choices of Americans.

1. Our homes were built in the '70s and '80s. If you lived in a '70s house, you knew how to buy and sell. You had access to a credit score, and mortgage rates were lower than they are today. 2. You had a plan for a house when you bought it. We all have plans for our homes when we buy them, including the type of paint, the roofing, the carpeting, and the flooring. 3.

We didn't have home equity loans, credit card debt, or any other debt that makes it harder to buy a house. 4. You didn't take out a home equity line of credit or any other kind of home equity loan. 5. We didn't have a mortgage. There was no mortgage on the home. You could have a mortgage on your car, but not on your home. 6. Your home is NOT a second home that you use every other weekend.

When you buy a home, you are assuming the risk of homeownership.

You don't have to pay to own a home.

We, on the whole, have had much less mortgage-related debt since we started buying homes. Many of us have had a home equity loan, a home equity line of credit, and even a home equity debt loan. So we don't have to pay taxes, insurance, and maintenance on our home.

While there are still a lot of homeowners who have mortgage-related debt, there are also many who have debt with no direct connection to the mortgage. The home equity loan is a great example of this. You can take out this loan and get money immediately without even signing on the dotted line. However, this is a non-recourse loan. The home equity line of credit is somewhat a recourse loan because you have to pay interest on it.

The home equity line of credit is a good example of a debt that is not directly related to the mortgage.

Think of it as a loan that you can take out at any time without penalty. Home equity loans are usually used to finance home improvements or to pay for things like car repairs. However, the home equity loan is not usually a loan you can pay off in full until retirement, like a mortgage.

It’s difficult to get a home equity line of credit with bad credit, but it is possible. Home equity lines of credit are typically available only to people with good credit. A good example of a home equity line of credit is the auto loan, which can be used to pay for most anything that you plan to make payments on. But a home equity line of credit can also be used to pay for medical expenses.