It all depends on your situation and it sounds like you have given this decision much thought. If you have more than 20% equity in your home, then you could take 'cash out' to pay off your 'bad' debts and replace it with 'good' debt at a lower rate plus you get the tax benefit of the mortgage interest deduction (versus no benefit on higher interest credit cards). This might or might not be the case.
You would be better served either talking to a financial advisor to come up with a plan or a reputable mortgage professional that might be able to assist you in reorganize your debt burden to make it more managable. Many personal, quality of life and financal factors come into play when your trying to accomplish debt reduction.
Scott R. Butcher
Maker Capital Group, LLC
2307 Lake Austin Blvd.