Ok, is this a dumb idea?

[Ali Sheik]

Let's assume that I can pull out approx. $225,000 in equity from my home. Let's also assume that if I do nothing with it I am able to pay the monthly note to satisfy the loan. Seeing that rates are pretty low right now is there an argument against pulling money out, paying down the loan according to the terms and at least getting the tax deduction on the interest while waiting until prospects develop to then use to put a down payment(s) on a property?