I don't like co-signers as they usually damage relationships when things go sour. And even if they don't, you are tempted to look at the way people live their life differently, if you are responsible for their debt.

I would look for other ways to get rid of the credit card debt. Finding a low rate on your balance is a good start. Then would yard sale, eBay, extra job,to improve income to pile on the debt. With employment options limited in Michigan,a couple of part time jobs may help.

Quick jobs that will fill in would be tutoring, yard maintenance, baby sitting, house cleaning services-find something you can do, make a few business cards, and go after it.

Negotiating the debt down can work if you are way late on your payments.

But I agree with MBH, increasing the risk of losing your home, by combining more debt into the equation, I don't think is a good plan.

(Thanks for your question Susan, and welcome to Cash Commons.)

I'd probably be able to steer my answer better if I knew the following:

• The terms of your mortgage (you say 5.85%, but is it fixed- or adjustable-rate, length of mortgage, if it resets, when will it reset, etc.)
• Your mortgage balance and the approximate value of your house
• Your credit card balance and the APR

But I'll do what I can not knowing these things.

You may be able to refinance with a strong cosigner. You'll almost certainly need one for now, since you'll soon have no income. Also realize that the cosigner is on the hook with you for the mortgage.

The bigger hurdle will be the appraisal. If your house doesn't appraise high enough for what you want to borrow, the bank won't do it, regardless of how able you and your cosigner are to repay the loan.

In any case, if you're planning to do a cash-out refinance (increase your mortgage balance and pay off the card with the cash out) then you're trading unsecured debt for secured debt, which may not be the best idea.

Your current rate of 5.85%, if it's something like a 30-year fixed rate, isn't a bad rate at all. You'd have trouble doing much better anyway. If it's under less-favorable terms (adjustable rate, interest-only) then it's not quite as clear-cut.

Before monkeying with the mortgage I'd see what you can do to reduce the rate on the credit card debt. Can you get your rate lowered? Transfer the balance to another card that gives a teaser rate for a few months? It doesn't hurt to ask if you're still current on these bills.