subject: Debt Consolidation Explained [print this page] Most lenders are often open to the possibility of renegotiating your loan as a way of reducing the risk of default. A debt consolidation loan is not the only way forward. You can refinance your mortgage or get a second mortgage as a means of debt consolidation. Whether or not you can get a second mortgage for debt consolidation depends on how much equity you have. You are not likely to get a second mortgage if you do not have any equity. A de
