If we refinance how much money can we pull out of equity?

Me and my wife bought a home about 6 months ago. Our mortgage is for $130,000 and the home is appraised for $150,000. We need around $20,000 to consolidate bills and fix up the house. Can someone explain how this would work out for us and if we would be able to get the full 20k and in what form we'd receive the... show more Me and my wife bought a home about 6 months ago. Our mortgage is for $130,000 and the home is appraised for $150,000. We need around $20,000 to consolidate bills and fix up the house. Can someone explain how this would work out for us and if we would be able to get the full 20k and in what form we'd receive the money. Thanks.
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