5. Explore Refinance Options
If you own your own home you may be able to take advantage of low interest rates and refinance the mortgage. In addition to lowering your monthly payment you may be able to take a portion of your home’s equity to consolidate credit card and loan balances and pay them off. Keep in mind however, negotiating a new home loan costs money. While fees and points can generally be rolled into the new mortgage payment, there may be up front charges involved in the process.