...  asked: ok, my situation is that I have a huge amount of credit card debt and a few other loans. I am not a “big spender” and financially responsible but a few “curve-balls” that life has thrown me has left me in a hole I don’t know if I can climb out. What I am hoping to do is either do a debt consolidation loan or maybe 2nd mortage. I own a home but other family members stay there and I was hoping to one day own one for myself. So I guess my question is what are some of the pros and cons of debt consolidation. What would I do or need to do to take out a home equity ...