Foreclosed now want cash out refi

[Jimmy P.]

A close friend of mine lost her house in the fall of 2010. She now owns two homes outright and has had the same job making over 50k for 7 years. She has tried to find a way to pull the equity out of the homes so she can invest in another one but has had zero luck.

After hearing her frustration I knew this was the place to look for an answer. Apparently the banks have told her that 4 years is the magic number before they can do anything. Is there any high risk banks that will take this on? I dont think she wants 80% or anything it sounds like she would settle on 50%. Any and all ideas are greatly appreciated. Thanks everyone.