In Texas, the average credit card debt is nearly $7,000, ranking the state seventh-worst in the nation. Many families are struggling with high-interest debt.

Financial experts suggest that a home equity line of credit, or HELOC, could be a useful tool for some homeowners. Home equity is often the largest financial asset for homeowners, and rising home values in the Houston area have increased equity for many.

Further details on using a HELOC to manage debt are available from financial experts and mortgage specialists, such as Charles Villafana, who note that few Texans have tapped into their home equity through a HELOC or second mortgage.