If you are in a situation where you are unable to access the equity in your house, you have no equity in your house or you don't own a house and would like to be able to buy one, then here is a way to pay the credit cards off in a timely fashion.
Make a list of all your credit cards with balances. Put them in order of highest interest rate to lowest interest rate. Beside each card write down how much you have been paying each month and what the minimum payment is for each one. Write down the difference between the two payments. Apply this extra amount being paid on each card to the card with the highest interest rate until it is paid off. Then apply the amount that had been going towards that card to the next card on the list. Continue on down until all your credit cards are paid off.
Of course, any tax benefits you may be eligible for will also mean that those converted credit card balances will now be secured by your home, so consider your options carefully and consult your trusted mortgage expert to help you determine your best options.
To pay off your credit cards much quicker and to receive benefits of tax deduction on the interest of your credit cards you can consolidate the credit card debt into your mortgage. This is called a cash-out mortgage refinance or a debt consolidation refinance. Consolidating your credit card debt into your mortgage can generally provide you with a much lower interest rate on this debt, save money from your minimum monthly payments, help you to possibly make this credit card debt now tax deductible through mortgage interest, and help to increase your credit scores. By paying off your credit card debt you will have a better ratio of credit card balances to credit card limits, which can significantly increase your credit scores.
You could consolidate your high interest credit card debt into a Home Equity Line of Credit. This way the interest you pay is tax deductible at the end of the year.