Start with that process of elimination to find the problem. Unplug the fridge first and check to see if it throws the breaker. If it does, unplug the element on the water heater. If it does, go to something else (sat dish or whatever). You'll eventually find where the fault is.
I'm guessing the heating element in the fridge. Someone said less than $100 but I replaced mine last time for about $30 and a half hour of my time. I don't think there is anything wrong with the fridge that would cause it to be needing replacement.