Cash Out Refinance
You need cash to pay off debt, medical bills, remodeling or what ever. You have plenty of equity in your home. Talk to your mortgage broker and tell him or her you want to do a cash-out refiance. Your broker should then look at not only getting you the cash out you need through a HELOC Home EquityLine of Credit or look at the bigger picture which is how to get you the cash you need and save you money by reducing your rate or term of the mortgage.
Inspite of what you read, rates are still historically low and may go up if you are in an ajustable rate mortgage. That means to hedge against potential inflation now is a smart move. And if you need to lower your mortgage payment there are some new programs available such as a 40 year fixed mortgage.
The best thing to completely identify your goals with your broker and let him or her give you some options.
Here is a broker licensed in all states that I know personally does excellent work:
Kirt Eure at First National Mortgages: http://www.fnmortgages.com