Looking for soem good advise

[George N.]

Hi, I have a question that I wanted to ask here in this environment, among all these experienced investors, hoping to hear some good ideas.

Currently, my family has a home (occupied by me), which is essentially mine and can do whatever I decide to with it, even thought he title is not on my name, meaning I can still get an FHA.

We owe around 180K, the house is valued at least around 300K. Single family home, out in Baltimore's suburbs.

I was trying to figure out whether it would be a good idea to refinance it, take out the equity and stay in the house but use the equity to buy other properties. We have a rate of around 5%. Bought it in 2009 as a foreclosure.

Any ideas as to what would you do to get the best outcome out of this situation ?

thanks for all your help in advance.

George