Considering my husband is out of work till who knows when, my teenage son is out of work and my stay at home job doesn't pay enough... I am thinking of doing this to cover costs of things that need to get done. We had planned on repairing the roof this spring but now we can't really afford to but we are beginning to get leaks which is bad. I don't know if this is wise or not or what other options we have.
This should always be a last resort. I would look into all the options you have and only do this if you absolutely have to. It is like filing for bankruptcy. The options are there for us but we should only do these things if we have no other way.
The APR for these is usually quite high. My wife and I considered doing this before we lost out home and had we done so, we would have lost everything we had at the time. I don't think you should unless it is your only option.
I would not do it. Do you have a personal banker you can speak with at the bank you belong to? If so, they can better explain the cons of doing this and what your other options are.
Most people do not completely recover from these. You have to be prepared for some very serious planning. I would take the advice mentioned above before you do anything with something like this.