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 have increased equity for many in the Houston area.

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