Borrowing against your home equity is one of the best ways to consolidate your debts and Ill not argue against it. It is a known fact because youll get to enjoy lower interest rates and better payment terms.
It is not the end of the world though, if you do not own a home. There are still ways out the second best solution would be to make use of your good credit rating (if you still enjoy now) to help consolidate your debts…