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Swapping 22% credit card interest for an 8–9% home equity rate can save thousands — that's the appeal. But it converts unsecured debt into debt secured by your home, so a missed payment now risks foreclosure rather than just a credit ding.
When it works
It works when you've fixed the spending that created the debt, the new rate is clearly lower, and you have a firm payoff plan. It backfires when you consolidate, then run the cards back up. Estimate the new payment with the home equity loan calculator before you commit.