[tinapbeana]

the only reason i'm cosidering cashing out some equity is to make improvements to the home (kitchen is 40 yeras old, bathtubs are 60 years old). we're in a lucky position, b/c we paid 20% less than the appraised value anyways, so there's instant equity to use should we decide to do so. also we intend on refinancing with our credit union for the appraised value at a much lower interest rate; even though the loan will be for a larger amount our monthly payments will be the same if not lower, so we can actually continue to pay ahead on the mortgage.