Refi on house used for collateral

[Shawn Mcenteer]

My wife is being offered ownership to a company where she would have to use our MFR (we owner occupy, only property we own) as collateral, in return she would become a share holder. If our house is being used as collateral we are being told we will not be able to refinance. Our intention with our current property was to refinance a portion of the equity to purchase our next property. If we have to put our property up for collateral what options do we have moving forward using our properties equity to purchase future properties? Is refi possible? other options we are not thinking of?