Have home with Equity - Getting Divorced - Wondering about option

[Janes Porter]

I have a home in the Boston Area with about $40,000 left on the mortgage.

I am getting divorced and in our divorce agreement I can buy my wife out for $140,000.

The home is worth about $380,000.

Ideally I would like to refinance, pay her off, take out enough money to pay off my credit Card debt, about $75,000 - don't ask, and not have to sell. My two children would live with me.

I am self employed and don't think I can refinance based on what I show on taxes.

I want to stay in the house about three more years.

Is there a creative solution to my dilemma?

Thanks