Fire up the equity lines means get your home mortgages and lines of credit up as much s possible, so that the taxpayers can eat it for you with that reduction (especially get it off the credit cards). But the rumour was probably wrong:

"Democrats may want to revisit their proposal of earlier this year to give bankruptcy judges power to lower the principal and interest rate of a home mortgage. At the moment, bankruptcy judges only have this power over vacation homes. The mortgage industry is firmly opposed to this measure."

Now THOSE are some choosey beggars!!