Best of luck to you, Tony. My wife and I are considering doing the same on our condo, and even though our area has been pretty good for home values, condo values really took a hit. I'd estimate that we lost around 1/3 the value of our home, based on the most recent comparable sale.

Still, we're looking to refi as well because I think we're at around 6.5% so we can certainly do better! Definitely let us know how it turns out for you.