FHA Refinance for Debt Consolidation
FHA home loans are in place to protect the borrower, as most government backed loan programs are. With FHA in particular, you can borrow up to 95% of the value of your home today, allowing you to consolidate debts into one payment, many times lowering the interest that will be paid on other debts. If you have owned your home for a year, and believe you have equity in the home, this can be a great solution. Some debts can be arranged to be paid at the closing of the new loan.
FHA looks out for borrowers.