Refinance to pay off credit card debt - what's the best option?

[Michelle Burgstaler]

I’m hoping someone can give me some sound advice. I have $24m in credit card debt, my husband has $0. I am trying to figure out the best option for eliminating the CC debt, plus having a little left over to help our son with college expenses. Husband’s credit score is around 740, and mine has recently tanked to about 550. I make about $16m/year, he grosses about $70m (rental income).

We own 9 rental homes; 6 are mortgage-free and 3 have 30-year mortgages, $50m (4.75%), $67m and $63m (both at 4%). We are 6 years into these mortgages at $1,050/month. The rentals are worth $100-135m each. Our home is probably at $230m, mortgage-free. We are 56 years old and don’t want to sell the rental properties yet.

Would it be best to refinance one of the mortgaged rental homes? (15 year at 4.175% with $4700 closing costs is an offer we received on the rental we owe $50m on.) Or take out a mortgage on one of the mortgage-free rentals? Or should we take out a mortgage on our residence instead?

My husband is strongly against mortgaging our residence. But I'd like to be able to convince him that's the smartest option, if, indeed, it is? For example, get a 15yr mortgage on our residence, pay off 2 rental mortgages, pay off the CC debt and have enough left over to pay down on the remaining rental mortgage and help our son? I don’t know enough to know what the best option is and I don’t know who to turn to for advice; a banker, a financial advisor, a lawyer??? Any advice is greatly appreciated!