Does it make sense to refinance for 140k in order to get 40K?

[Keith W.]

To make a long story short, I approached my bank to cashout or line of credit to finance the start-up of my real estate business. It was discovered that there was a soft-second or silent mortgage on my home. This was the result of a mortgage modification a few years ago when my industry was under attack by the previous administration. (Not to get too political)

Anyways, I was looking to pull 40K out of the equity from my home but there is a 100K soft second mortgage that must be satisfied before I can refinance or line of credit. If I were to sell the house, that 100K would become due. 

Therefore, in order for me to get 40K, I would have to refinance 140K. A hundred to cover the soft second and then 40k to use for the business. 

This, of course, will raise my monthly mortgage payment. My overall strategy is, to begin with fix and flips, using a portion of the profits to pay the mortgage back down. 

I guess my question is; does it make sense to refinance for 140k in order to get 40K in working capital?