Should I cash out refinance my free and clear rental property to

[Andrew Fenton]

So I have been trying to get a HELOC on my rental property. I was at the ending stages of the loan process with Wells Fargo and at the end they said they couldn't do it because the house was in a rural area and if I default on payment it would be harder for them to sell.

So now back to the drawing board. I'm thinking about doing a cash out refinance on the rental and using the money to pay down on my primary residence so that I can take a HELOC from my primary.

I just cash out refinanced my primary residence to pay off my rental taking advice from the workers at the bank. But I regret doing that now that I can't get the money out. My primary residence is worth $135000 with a $94,000 balance and my rental is worth $100,000. 

What should I do BP community? Thanks for you help in advance.