Cash-out refis died an unnatural death about 2006-2007. It's nearly impossible these days to refi, despite "Home Affordable" govt interventions (near-total failure of the program), historically low interest rates, etc. There are no refi deals, even if you have FICO scores well into the 700s - 800s. It's a bummer, but frankly, the last thing you want to do right now in this economy is take on any debt of any kind whatsoever! The economic situation is precarious at the moment. The second leg down has started, the govt statistics are now being shown as one lie after another, and we could have meltdown within 1 - 2 years. You don't want a loan or any sort of debt now, no matter how bad things are. They appear to be set to get a lot worse sooner than you think. Pray I'm horribly wrong. Unfortunately, I've predicted crashes before (published in established international biz publications well in advance). And those with an even better track record and more renown say the same - or worse.