There are a couple of main points that have to be looked at when first inquiring as to whether you can use your mortgage to help your credit crunch.  First, what is the penalty to break your current mortgage and refinance your debts into your mortgage.  Typically lenders charge a penalty to break a current closed mortgage; however call your lender and inquire.  They may allow you to increase the amount of your mortgage, free of penalty as long as you stay with your current lender.  If switching lenders, it is important to weigh the costs and benefits to paying the penalty.

The second point is whether you have an adequate amount of equity in your home to draw out and pay your other debts.  This will be assessed by an appraisal of your current home versus the mortgage amount you will need to pay-out your current debts.

If you find yourself looking at high-interest credit charges, rolling your debt into your mortgage and taking advantage of the low mortgage rates may just be the leg up that you need!  Talk to your mortgage advisor for more information!