best refinancing strategy to re-invest ?

[Jesse Barahona]

Hello all! Me and my family currently live in a single family with a debt of $50k left of mortgage, if we sell the home we can lock in a good 150K sale price since the market in my area has gone up really well. Im here to ask because the rates are low where I'm at, Mesquite, TX, would re-finance with a lower rate and a higher appraisal value  straight from a lender be the best option for more cash to re-invest ?? or would a Home equity line of credit be a better option ?? what's a good way to break down the cost differences for me at home to present it to my family ? that you for all the help !