I've just been catching up on these points and I think all the points have been covered, so I'll share my own experience with this scenario.
Two years ago, at around this same time, I was invited to a raked $2/$5 NLHE home game by someone I regularly played with at the casino (super common here, given the ludicrous rake in the casino). He seemed like a decent guy, and I had been looking for a decent Wednesday game, so why not? It was a $200 - $1000 game, and so I brought two bullets with me and the reg who invited me came along as well.
It was a fun game. Lots of banter, drinks, and service throughout the night, but as far as poker wise I was pretty card dead even with a softer game than usual. I ended up stuck maybe a hundred or so by the end of the night. Not bad for free drinks and dinner I suppose, and it was so soft that I could definitely come back and try to win a few bullets.
The problem was cash out. I was in for around $1500, and two players were on credit from the host. I had no idea if this was a usual occurence, but again as
@Rhodeman77 pointed out, as a first timer you have no idea what the normal procedures are. I just assumed that they were good for the ~4-5k they borrowed, and the host took a rake so I wasn't particularly worried.
As I went to cash out with the host, he told me that the other players couldn't pay him tonight and therefore I would have to get my cash in a few days, because I was a new player and not a "reg". Hold on, WTF?? Remember that I was a LOSER in this session!
I told him that there was a rake and therefore he should be paying me with that money if he was doing credit. He told me that he had to pay for the dealer and waitresses and therefore I would have to wait before being paid. At this point, my buddy who invited me to the game was furious, and demanded that I get my buy-in back. He ended up reimbursing my buy-in (he definitely didn't have to), and apologised profusely. I considered myself extremely lucky. I immediately left straight after, as quite frankly I didn't want anything else to do in the situation.
The month after, I learnt that my buddy had completely wiped out his game, and recovered his money owed. He ended up private messaging, calling, and meeting up with all the players, especially the players who weren't there, as well as other game hosts in the area. Sure enough, the host's reputation took a nosedive and he wasn't able to play in any other private game for quite a while until all the debts were settled. I suppose that's the only thing you could do at this point if you want to recover any money.
Good luck my friend, I hope you get at least some money back.