Debt Consolidation

Mortgages generally qualify as good debt: they are usually available at the lowest possible rates, and they represent a good investment in a (generally) appreciating asset. Bad debt saddles you with high interest rates - often on depreciating assets. But if you have equity in your home, then you have an opportunity to turn bad debt to good debt - by refinancing and rolling high-interest debt into your mortgage for big interest savings and a lower monthly payment.