There was a quick little article on the GMREB website last week that pointed out a few benefits of remortgaging your home. Certainly, with today's low mortgage interest rates, it makes absolutely no sense to carry a balance on a credit card at 19% if you have equity on your home you can tap into. But...as with consolidation loans, it is far too easy to access easy money, pay off the cards and fall into exactly the same bad habits that got you into financial difficulty in the first place.
To get ahead financially you need to modify your spending habits and change your relationship to money. Tapping into equity, taking advantage of a great credit rating, or buying an investment property with no cash down can all be advantageous and beneficial, if done the right way.