Cash-Out Refinance for Foreclosure Bailout

On behalf of a couple whose Orlando home was in foreclosure, we obtained a cash-out refinance to give them the liquidity to pay off the first mortgage and bail them out of the foreclosure.  Besides the foreclosure, the other challenges included water damage to the home caused by a leak, as well as a city lien on the property due to an issue with an open permit.  Despite all those issues, we were able to get them approved for a loan.  They are now out of the foreclosure, and they were able to put the leftover cash into savings.