Yes, you can refinance your mortgage to consolidate debt if you have enough equity. However, you should carefully examine the interest rates of both your mortgage and the other debt accounts to consider whether you’ll be able to make the higher mortgage payments every month if interest rates rise. Depending on the situation, it may be safer to choose another debt consolidation avenue. For example, Quebec residents who utilize the province’s voluntary deposit program are guaranteed that creditors cannot seize their house or other assets so long as they continue to make payments.