Historically it is always a good choice to refinance your existing mortgage when you become encumbered with substantial higher interest debt or an interest rate that is much lower then your current rate on your mortgage.
* Credit Cards
* Educational loans
* Car loans
* Unsecured Loans
When you refinance and include debt like the types listed above, in many cases, you can save money and reduce your monthly payments substantially. The effect is that you now have much more money to use in other parts of your life.