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If you dread opening your credit card bills each month, know you’re not alone.

At this time of year, when we are looking forward to what the new year will bring, consumers find themselves struggling with how to keep up with their holiday bills. This leads us to our question: Can a cash-out refinance help you breathe a little easier?

In most cases, the answer is yes! Assuming you’ve been in your home long enough to build equity, you can put that equity to good use.

With mortgage rates still relatively low, this might just be the perfect time for you to refinance your home AND get cash back to pay off your credit card debt.  This could help to put more money back in your own pocket and take away some of the financial strain.

Refinancing at this time may have other vantage points to consider.  Even if you’re not drowning in holiday debt, it’s possible your current mortgage rate is higher than what is now being offered by financial institutions and mortgage lenders. Refinancing at a lower rate could not only save you thousands over time but could decrease the length of your loan depending on your mortgage terms.

Now is the time to shop around and speak to mortgage lenders to see what options and rates are available to you. Whether your refinance will help you to relieve your debt or simply allow you to save some extra money each month, learning about the different loan programs that can help you is as quick and easy as making a phone call or completing a mortgage application online.