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A cash-out refinance can be an effective way to consolidate high-interest debt in 2026. You replace your existing mortgage with a larger loan, then use the difference in cash to pay off credit cards, personal loans, and other debts, often at a considerably lower rate than what that debt is currently costing you. For many homeowners, this simplifies several payments into one monthly obligation and can meaningfully reduce total interest paid over time, especially for those with