Is it a wise decision to consolidate debt through refinancing?

NEVER turn unsecured debt into secured debt. Put yourself on a strick budget....brown bag it, no starbucks, use coupons, shop thrift stores. Get a part time job dedicating the income to paying off the credit cards.

Yes, I agree with SOAPLADY. It's always better to repay unsecured debts by following a strict budget instead of making your debts secured. You may lose your home if you're unable to pay back your mortgage loans. So, sit with your family, discuss and plan a budget, which you all will be able to follow.

I totally agree with Good Nelly. However, you can always find an extra source of income to pay off your debts, may be a part-time job.

Cash out refinancing can help you pay off your high-interest debt and mortgage. But, will you be pay off the new loan? How much equity do you have in your house? Remember, you would only increase your debt load.

DITCHDEBT....ARE YOU A MORON???? AGAIN IF YOU HAVE READ WHAT OTHER PEOPLE WROTE, EXCHANGING NON SECURED DEBT FOR SECURED DEBT IS TOTALLY UNADVISABLE.