Re-financing 4 times to help pay for child's bi-polar disorder. This strikes me as a story about medical/mental illness cost and not mortgage debt, per se.
Nevertheless, if you want to think about in financial terms, taking out a series of loans on the house seems like a pretty terrible idea just on the surface. If you can't pay for the thing in front of you, what makes you think you'll be able to pay for it in the future?
Speaking of...how are families expected to pay for long-term issues like bi-polar, alzheimer's, cancer, etc.? I get how the rich do it...I don't see how anyone else does.