When you default on a secured debt, the creditor takes the asset that backs up that debt. When you convert credit card debt to mortgage debt, you are securing that credit card debt with your home. That's a risky proposition. — Jean Chatzky Copy Share Image
You also need to understand that when you consolidate credit card debt into mortgage debt - like a home equity loan or a HELOC [ home equity line of credit ] - you're taking an unsecured debt and turning it… — Jean Chatzky Copy Share Image
![“You also need to understand that when you consolidate credit card debt into mortgage debt - like a home equity loan or a HELOC [ home equity line of credit ] - you're taking an unsecured debt and turning it into a secured debt.” quote by Jean Chatzky](https://sms4smile.com/quotes/img-quotes/e84/jean-chatzky-15313_cards_you-also-need-to-understand-that-when-yo_1363945.jpg)