Understanding re-finance new to the idea of REI

[Christopher Butterstone]

Hi. I'm brand new to the idea of REI and as I'm just doing my homework and trying to get in understanding of how broad this journey will be. I'm trying to think of creative ways to come up with some cash. I have this idea but in my head it sounds to simple to be true and would like some feedback from professional. My mother in-law owns a home that appraised at 307k. She owes 150k. Technically she has 157k in equity? If she were to do a cash out re-fi and I'm assuming there will be fees and closing costs but she would essentially be entitled to a large lump sum??? If she took that lump and put it right into the principal of the house. My thought after a bit we can then take out a HELOC and really get our hands dirty. I'm guessing this post will show just how new i am to this idea. I am in no rush to make any bold moves or eager to get into something i can't get out of. Just doing my homework. And feedback is appreciated. Thanks