On the surface, refinancing a mortgage to consolidate other
debts is a tempting option. However, there are potential
drawbacks you need to account for in order to make refinancing
and debt consolidation work for you.  The obvious appeal is that
mortgage rates are usually lower than interest rates on other
forms of debt. If you have equity in your home, refinancing can
let you borrow against some of that equity to pay off other
debts, such as credit card debt and personal loans. According to
the Federal Reserve, when 30-year mortgage rates were at 4.20
percent recently, credit cards were being charged an average of
13.14 percent. So the potential to lower the interest rate on
your debt is clear. In addition, debt consolidation can simplify
your finances by replacing multiple payments with a single
mortgage payment.  So what are the downsides of refinancing to
consolidate debt? For one thing, it raises the stakes. While
credit card debt and other obligations generally cannot result
in any claims against your ho