Are you one of the millions that can only afford to make your minimum debt payments each month? After making those payments is there precious little money left over to provide for the daily needs of your family? If so you can find debt relief through debt consolidation. Debt consolidation can occur in one of three ways: a second mortgage, a refinanced mortgage, or a debt consolidation loan. While there are several ways to consolidate your debts, it all works about the same.