Remember the key to succeeding and getting a low interest, consolidated mortgage is to do your research and to ask the right questions when arranging your new mortgage facility. The more equity you have in your home the better the deal you will be able to do. And there is no better time than right now to be doing this because you will get the best rate available and of course look into locking that good rate into a fixed interest loan on all or part of the mortgage.

If you have several credit cards then you are at risk of becoming a statistic in this credit-debt-bankruptcy spiral. In most bankruptcy cases credit card debt is the prime reason for the financial crisis.

Having equity in your home is certainly something to desire, however, the investment return on home equity is zero. And the only way to benefit from having equity in your home is to sell the home or take out a further mortgage on your home. So it makes sense to forego a part of the equity in your home each month and convert it into a tax deduction.