Refinancing House Loans
is house refinancing to consolidate all personal loans is favorable?
House refinancing is essentially just changing your mortgage rate and maybe time period. It has nothing to do with consolidating personal loans.
If you are talking about a home equity line of credit (heloc), theoretically it is favorable because the interest rates are much lower than personal loans, but it depends on your situation. When you take out a heloc you are losing equity in your house, and thus decreasing your net worth. It depends on your current situation, and how much money you are going to take against your house, as well as how long you wish to pay it back.
Maybe you should check out Prosper. Its a Peer to Peer lending site. Usually people get better rates than they would get from banks.