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Why Consolidate Debt Into A Home Equity Loan About Mortgage Debt Consolidation Loans Consolidation loans are a popular way to get a handle on debt. You get the convenience of rolling all your debts into a single monthly payment, which is often lower than what you were paying before, due to a lower interest rate, a longer repayment period or a combination of both. A mortgage-based debt consolidation loan can be a good option for a number a reasons. First, mortgage rates tend to be lower than the interest rates than other types of debt, particularly credit cards and other unsecured loans. Second, mortgages can be repaid over a long period of time, which helps reduce your monthly payments. Third, interest paid on mortgage debt, even from a debt consolidation,…