Homeowner in foreclosure get cash out loan?

[Ibrahim Hughes]

Does anyone know if it's possible for a homeowner whose been in foreclosure for a year to refi and get a cash out? His house is probably worth $175k and he owes about $50k. Long shot but figured I'd ask. Thanks.

[Jon Holdman]

A better question, IMHO, is why can't he make the payments on the current loan? If he can't make those payments how can he possibly make payments on a new, bigger loan?