Today many homeowners have to much unsecured credit card debt that they struggle to pay every month. Reducing your monthly debt load by refinancing is a great option, but what can you do if youhave no equity in your home for a debt consolidation refinance? If you have no equity an good credit one option is to transfer balances over to low rate credit cards.

If you have no equity in your home to consolidate debt, you can look into obtaining a personal loan. This way you can consolidate all of your monthly debt into one low monthly payment, free up your credit cards again, which will improve your credit scores, and get yourself on a payment plan to actually get somewhere with all of your debt so that you can get it paid off in a timely manner. The most important thing is to make sure that you do not go out and use your credit cards until everything is paid off and even then only use them very sparingly.

Some lenders are still offering 115% and 125% programs. If you owe 100% of your home's value and would like to consolidate, you may be eligible for a 115% or 125% loan if your credit and income are good.

These loans are not for everyone, but may fit your particular financial needs.

David Mordue / Mortgage Planner / Liberty Financial Group - Kirkland / - www.DreamHomeWA.com