Pulling out Equity from a refinance

[Luna4]

If I pull out equity from a refinance what are the taxes consequences?  

[DaveF1006]

It depends. There is no income tax consequence for pulling out the equity for a refinance because it is considered a loan. However, you will not be eligible for a mortgage interest deduction on the amount you used for personal reasons because the loan was not used to make capital improvements to substantially improve your home. 

[Mike9241]

what did you do with the cash you pulled out? there are tax laws regarding tracing the use of proceeds from a loan.