The prospective property is located in URBANIZED PLANNED DISTRICT and just within .5 mile to main highway and surrounded by restaurants and stores.

That capital basically becomes illiquid as long as the loan is outstanding, I'm not sure I see any advantage over cash. 

If they have done things like this before there may be outstanding judgements and warrants so there may be people very interested in knowing where these people are right now. 

Photographer was outstanding.

The 'Northwest quadrant' of the Greater Orlando area has just been overlaid by hundreds of millions of dollars in highway infrastructure with the Wekiva Parkway (http://www.wekivaparkway.com/) which brings easy commutes and connection to a huge swath of what used to be pretty detached rural areas. 

As I understand it, at any moment, the outstanding loan principle is deducted from my investments (I assume proportionally across all funds), so if I borrow $20k, that is no longer earning in my portfolio.

So the payment would most likely be 1% of your outstanding balance until paid off with the refinance. 

One has a $60/yr fee.These are floating rate, so there is some risk to them, and they are interest only for the term, with an amortizing function for any balance outstanding at end of term. 

@Robyn Gersh, I’m “able” to drive 100mph on the highway....unless I get caught and punished.  

When you do a Wrap it implies that title is now in your name even though there is an outstanding mortgage in someone else's name.