Some important tools to help you measure if a refinance loan is beneficial are;

Have you reached your credit limits on cards and loans?
Have you carried a large balance on your cards for longer than 2 years?
Has my interest rate increased due to late or slow pays?
Will it take you longer than three years to pay off your current balances?
Are you unable to pay more than your minimum balance due?
Have you noticed a decrease in your credit score?
Have you been more than thirty days late on your payments?

If you find yourself answering yes to three or more of these questions, it will most likely be in your best interest to consider a debt reduction loan that will allow you the opportunity to clear up your credit debt.

Another advantage of a debt consolidation refinance is that the interest you pay is probably tax deductible. This can be a huge advantage come tax season. Be sure to ask your accountant if your mortgage interest will be tax deductible.

One way to get out of debt is to refinance your mortgage and consolidate all, most, or some of your debt into your mortgage. To do this you would need to have some equity available in your home. By refinancing your mortgage you can save hundreds of dollars per month and many times even thousands of dollars per month off of your monthly expenses. Consult a mortgage professional today to find out how much money you can save.

Many people are tempted to enlist the help of a consumer credit counseling agency. Although they can help get your bills in order, there are a few negatives that can go along with this decision.

For example, on your credit report most of your creditors will report that you are in consumer credit counseling. This can be seen as a negative mark when you are applying for a mortgage loan. Many lenders view this as the same thing as a Bankruptcy (chapter 13) and will underwrite the loan accordingly.

Other lenders will simply ignore it. It's best to talk to a competent mortgage broker and find out all your options.