I didn't have to look at the government numbers to know things are tight. I'm getting more calls from Metro Detroiters asking for guidance in paying their bills. 

Many are refinancing their homes to pay their debts. They're taking advantage of lower interest rates and the equity they've built up. Sadly, a lot of people don't realize what they're getting into. 

MGIC Capital Markets Group, a research firm, estimates that half of all refinancing today is for debt consolidation. The typical amount of the new loan is an additional $41,000. 

At today's average Metro Detroit mortgage rates, the loan will cost the borrower about $350 a month for the next 15 years. 

The Financial Planning Association, which represents certified financial planners, says refinancing a home to consolidate debt can become a nightmare. 

The group cautions that if Americans don't change their spending and saving habits, the same problem that got them into debt will plunge them into a deeper financial crisis. 

They'll pay a higher mortgage payment for years and they may continue to build up nasty bills that they're unable to pay. 

Are you at financial risk? Ask yourself these questions: 

Can I no longer afford to pay the minimum on my monthly credit card bill?

Do I have to borrow from one card to pay the monthly payment on another? Am I running out of cash before payday? Am I using credit cards to buy everyday necessities like food and toiletries? 

If you answered yes to any of the above questions, experts say you are at the danger level. 

The advertisements that encourage consumers to consolidate debt with "one low monthly payment" rarely mention that it may take decades to pay it off.