There are many reasons that you may wish to apply for a mortgage refinance. Perhaps you can take advantage of these super low interest rates and reduce your monthly payment. Maybe you would like to do some home improvements and want to refinance with a cash out option.Or, for the very best reason, you may want to restructure your current finances. If you have available equity in your home you can apply for a mortgage refinance with cash out option that will provide you with a lump sum payment. When you select this method a very sound financial move would be to pay off your credit card debt with this money. Credit cards carry very high interest and the debt can be crippling to many.While it is, in a way, just shifting your debt from one place to another, it is a way to reduce your overall debt and pay it off quickly.By reducing the amount of interest you pay on any debt you will reduce the amount that you owe. With this considered, you will now have a considerable sum of extra money each month that you no longer have to send to the credit card companies. This money will help you pay anything extra on your new mortgage or can be used to invest into your retirement.You can control your debt and your finances simply by looking for the quickest way to reduce and pay off debt. This method has helped many gain the control they need over their credit cards while beginning to invest into their future. Mortgage refinance can really help to restructure your finances.