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If you have owned your home for a while, it should have risen in value since it was purchased. If this is the case, you can use some of that home equity (increase in value) to pay off your current debt. Most home equity loans have a low interest rate. By taking out a home equity loan and using it to pay off debt, you should be able to save a substantial amount of money on interest.
Refinance Mortgage Brokers, powered by Countrywide, can help you get a free, no-obligation, home equity loan consultation. This way you can find out from an expert, whether this is the best option for you.
Another option could be cash-out refinancing. In this case, you can turn your home equity into cash to pay off your debt. You then just add that amount to your current mortgage. Basically, you are refinancing for more than you owe and you get the difference in cash. Whereas a home equity loan is a separate loan, this option replaces your current mortgage. In many cases, you can get an even lower interest rate than you would on a home equity loan.