But she recommends talking to multiple lenders and making sure you find one who understands your goals.“A homeowner should select a lender that is upfront about the entire loan process, especially the requirements needed to get a loan, so there are no surprises,” says PK Parekh, vice president of home equity loans for Discover.“It’s also important to find a lender that will provide a streamlined process and keep the homeowner informed along the way,” Parekh says.

Consider home equity financing: If you have equity in your home, you might consider a home equity loan or home equity line of credit. Our 2018 poll found that it’s easy to get rid of credit card fees if you ask.

Here’s the danger: If you owe 0,000 on your home and refinance for 0,000 with the extra money going to pay credit card debt, your monthly payments would be higher. I suspect it’s because I live in a trendy Tampa neighborhood called Seminole Heights. Great restaurants and neighbors make this a great place to call home.

Apply for a balance transfer credit cards: Balance transfer cards give you breathing room of a year or more to pay off your card debt with no interest, Nitzsche says.

Note that many balance transfer cards charge balance transfer fees, and you must pay off your debt before the 0 percent interest period ends or you’ll be paying even higher interest on your credit card debt.

Then a solicitation from a company I’ve never heard of offered me $200,000 more than my home is worth. In researching this story, I came to the conclusion that a cash-out refi wouldn’t be smart for me.

Yes, it might make financial sense, but if I had card debt to roll into the mortgage, I’d be worried that one day I couldn’t pay my monthly bill, and I’d lose my charming home.

One obvious benefit: Having one monthly payment to keep track of certainly would be easier than mortgage and credit card bills, Costanzo says.

Below is an example of how much you can potentially save in monthly payments when you roll your credit card debt into a mortgage refinancing. This example assumes no additional charges are made to the card while paying off the debt.

No matter which option you choose to pay off your debt, you don’t want to get in the red again.

Dlugozima suggests asking yourself if the root cause that caused you to run up credit card balances in the first place has been addressed.“We want people with credit card debt to examine their financial behaviors and make meaningful changes for the long term,” Opperman says.

Among the poll findings: 56 percent who asked got a lower interest rate.

Seek credit counseling: Credit counseling services also can help by developing a plan to erase your debt in 60 months, Nitzsche says.

If you have more than 20 years left on your mortgage and could refinance to a 15-year loan (average 15-year fixed rates are 3.8 percent), a refi that adds your card debt may be worth it, says Melinda Opperman, executive vice president of