mortgage refinancing, home equity loan  As you can see in the picture above a mortgage refinancing plan can save a considerable amount of money by using the equity in your home to consolidate high interest credit card balances into one monthly payment at a lower interest rate. I have used the technique of mortgage refinancing as a source of money to purchase websites and consolidate my high interest credit cards. Another option to consider if you need cash for college, a retirement home, investments, etc is a home equity loan. A home equity loan is structured in many different ways according to your financial situation, monthly income, and what the loan is to be used for. With much of the nation suffering through a free-fall in home values and interest rates beginning to climb, now might be the time to look into a mortgage refinancing from one of hundreds of loan lenders. Many home owners who bought homes with adjustable interest rates are learning the poor judgment of using this option and are switching to mortgage refinancing with fixed interest rates. You do pay a slightly higher interest rate with a fixed mortgage loan but in the long run this is the best option.