Home ownership offers the benefit of building equity as you live in the home and make your mortgage payments, and as the home appreciates over time. Home equity builds and can become a substantial amount. If you are struggling with high credit card debt, a second mortgage might be a good option to provide relief from high monthly payments combined with high interest and possible high fees. Tapping into your equity could provide a loan option that will help you pay off your credit card debt faster with a lower monthly payment.