Seriously consider if you want your house to serve as collateral for this kind of loan. [substeps] Using a second mortgage to pay off a high-interest loan may help you lower the interest you're paying in the short term.
[header] How to get a second mortgage on your home [title] Understand the risk of a second mortgage. [step] A second mortgage adds to your monthly bills. It comes at a high interest rate because it is a risky investment for lenders, since they would be paid off after the primary mortgage company in the event of foreclosure.