home equity loan, debt consolidation loanThe economy is in a bad way, and if you're scratching your head, trying to figure out how to hang onto your home if you've experienced a job loss, consider a home equity loan that will let you take out some of that equity and put it toward paying down your credit cards. Credit card debt can be a financial nightmare, and you're so much better off when you pay it off. Sure, no one wants to add to their monthly overhead, but almost 100% of people find that if they use a home equity loan to pay down debt, they are financially better off immediately.

Job loss can come suddenly, or you can suspect it's around the corner. In either case, if you have loan equity in your home, and a decent credit rating, seriously consider using a debt consolidation loan to pay down those credit cards. You'll be in much better financial shape, and it is a good way to ensure that you can afford the monthly payments for your home. By tightening your belt you'll keep your nest egg, and in these times, that's a good thing.