Cost Over Time - The monthly payments of credit card debt refinanced into a mortgage payment may be smaller, but the interest cost over time is significantly higher. Someone refinancing credit card debt over the thirty years of a mortgage will be stuck paying thirty years of interest on that debt. The high interest on an average credit card may seem high, but even a low interest thirty year loan will end up costing significantly more over time.

Default Risks - Defaulting on a credit card loan leads to credit damage and harassing phone calls. Defaulting on a mortgage loan leads to foreclosure and the loss of a home. While the payment on a mortgage that contains credit card debt may seem low, there is no way to predict what kind of financial situations may arise in the future and how those situations will effect a borrower's ability to pay off debt.

Long Term Obligation - Rolling credit card debt into a mortgage refinancing loan means accepting a new thirty year loan on both a mortgage and a credit card loan. Most credit card payments should be payable within just three to five years as long as more than the minimum balance is being paid. Paying off a mortgage loan will take thirty years of regular payments. This type of new long term obligation can end up putting off retirement plans and damaging long term savings strategies.

Pay It Off - The best answer to credit card debt one can manage to pay is to simply increase the payments to as much as one can afford and pay off the debt as soon as possible. Credit card debts can often be paid off in three to five years if the debtor has the financial ability to pay more than the minimum amount. While this may not be an option for those who are struggling to make ends meet, it can be the perfect choice for anyone who simply wants the extra bills to go away.

Credit Card Debt Consolidation - Consolidating credit card payments through a credit card consolidation program can be a good way to pay off debt when the combined cost of the overwhelming credit card bills is simply more than the debtor can afford. Debt consolidation can often provide lower payments than the previous total of the cards while still making sure everything will be paid off in two to five years. While consolidation is not a perfect solution, it can provide less of a credit hit than default while lowering costs and making sure credit card bills are cleared out over time.

Default - When someone defaults on a loan secured against a home, that person risks foreclosure. When someone defaults on an unsecured credit card bill, the worst that person will face is harassing phone calls and credit difficulty. While defaulting on money that is owed is never an ideal solution, it can end up being a reasonable answer for someone who simply cannot pay the bill and has the time to wait the seven years it takes a default to disappear from that person's credit score.