Spring is when homeowners shake the money trees they live in. It's when people borrow against the equity in their homes: One-third of home equity lines of credit are opened from April through June as borrowers seek cash so they can fix up their houses.

But people don't spend their equity solely on home improvements. They use home equity loans and lines of credit to pay off credit card debt, buy cars, cover the kids' tuition and pay for vacations.

So it's a good time to ask two questions: What are proper and improper uses for home equity debt? How much is too much?

You have three ways to tap your home's equity. First, you can sell your house, buy a cheaper one and pocket the difference. Second, you can refinance your mortgage, preferably at a lower rate, and borrow more than you currently owe and pocket the difference.

The third way is to get a home equity loan: a lump sum you get when you take out a second mortgage. Now the most common way to turn equity into cash is to take out an equity line of credit, which acts rather like a credit card. You withdraw money as you need it, and when you pay off the principal, the credit revolves and you can use it again.

With home equity loans, you're placing your home on the line, says Rudy Cavazos, spokesman for Money Management International, a debt counseling agency with offices in 10 states. "If you default on this loan, you could lose your house."

That's what you have to keep in mind. If you default on a loan backed by your house, you can lose the house, even if you declare bankruptcy. On the other hand, if you default on a credit card, you can have all or part of the debt forgiven in bankruptcy.

The interest on much home equity debt is deductible from federal income tax, which makes it tempting to use equity to pay off credit card balances and car loans.

You should shop around for an equity loan or line of credit. Compare interest rates, fees and rate caps.

People get into debt trouble because they borrow too much to pay back, not because they spend on the wrong things. It can be hazardous to pay off credit card debts with home equity debt because the temptation remains to charge up those cards again.