This is pretty scary

New products give homeowners increasing leeway as to how much equity they can tap and how fast they can tap it. Credit cards that allow consumers to draw on their home equity loans are one such device.

CMG Financial Services, a mortgage company in San Ramon, Calif., introduced another tool this summer: a combination checking account and mortgage.

It works like this: Your paycheck is deposited into your account and immediately applied to your mortgage principal. Over the course of the month, as you spend money on food, gas and other necessities, the principal creeps back up. But the result is that your mortgage debt gets paid off more quickly.

That's the theory, at least. Of course, if you're indulgent, you can pay much less of your mortgage — like none. Any shortfall is added on to the principal.