Why should you apply for a home equity line of credit?

The answer is very simple. The prime rate is very LOW right now!!! It's only 3.25%. If you have have a second morgage, or any other type of loans right now, with a much higher interest, you should consider applying for home equity line of credit. Thousands of people went bankcrupted by using credit cards because they cannot afford the high interest. Then why not apply for home equity line of credit?