Reduce Your Consumer Debt

The interest you pay on credit cards and personal loans is considered to be consumer debt and is not deductible. Consider shifting consumer debt to a home-equity loan (where available and not to exceed $100,000) to maintain deductibility for the interest.

Don't rush into anything, however. Consider loan origination costs and points you may have to pay. Also, realize that if you can't make the payments on the home-equity loan, you could lose your house.