However, there are many types of consolidate debt loans, and you need to know what is available before making any decisions.Refinance Mortgages: Home mortgages are the most common type of consolidate debt loans.These mortgages are typically a refinance of the original mortgage, which is a bit complicated but easy enough to understand.

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For many Americans today, consolidate debt loans are the only way out of a mountain of unsecured debt.

Unsecured debt is debt from services or monies that you obtained on credit without collateral, such as credit card debt.

Secured debt is debt from services or monies that you obtained on credit with collateral, such as a mortgage or pawn.

It is very hard to get out from under unsecured debt once it builds up, and consolidate debt loans are the only way to go for those who want to avoid bankruptcy.

Again, you can only take out a second mortgage on your home if you have equity built up in the home, either through improvements, payments, or inflation. However, if your first mortgage is at a fixed rate lower than the rate currently offered, you are better off getting a second mortgage so that you pay less interest overall.

Personal Loans: Personal loans are great for consolidate debt loans, if you can get them.The problem is that to get personal loans, which are of the nature of unsecured debts, you have to have a decent credit history and score.When you get into debt, you can refinance your home for the remaining amount of the mortgage plus the amount of equity that you have in your home.You can use this additional financed amount from the equity to pay off your other debt, effectively consolidating all of your debt into your home mortgage.Second Mortgages: Another type of home mortgage is a second mortgage.This is somewhat like a refinance, except that you are taking out a new loan in addition to the original mortgage.