I am in the process of refinancing and one of the things they asked me was for a letter explaining what I intend to do with the cash I am taking out. It sounded strange to me but it seems they are very careful these days about giving loans and want to make sure you are not strugling and need the money just to stay afloat.
By the way, in my case, I am just planning some home improvement projects and that answer was good for them.