If you have the right to remove property from the trust you need to deed the property from the trust to yourself with a fiduicary deed. This is very typical when you refinance. It is best to have an attorney prepare the deed and any related documents.
After you refinance remember to put the house back into trust to acheive the full benefits of the trust.
If your property is in a Trust it should not prevent you from being able to refinance. The only exception is if your property is Registered Land.
In that case, there are additional issues which must be resolved before and after the refinancing of your home. These changes will avoid the same issue happening again should you decide to refinance at some future date.
Mr. Stapleton is licensed to practice law in the State of Ohio. His office is located in Cincinnati. For more information you may contact him at 513-771-2444 (Ext. 106) or by following this link: http://www.cmrklaw.com/Bio/email.php?attorney=Elliott%20Stapleton Legal disclaimer: Any information provided by this attorney does not establish an attorney-client relationship. You must seek qualified counsel to fully evaluate every legal matter.
It is not uncommon for banks to require you to take the property out of the trust before they will refinance it. This does not require an attorney, only a deed (executed by you as trustee) conveying the property to you (as an invidual). Of course, the trust must be a revocable trust with you named as the trustee (if you're not the trustee, you would have to revoke the trust as to the house and follow the terms of the trust for doing this). If this was an irrevocable trust, court action may be needed.
HOWEVER, REMEMBER TO DEED THE HOME BACK TO THE TRUST WHEN THE REFINANCE IS OVER! If you don't then your home will not be a trust asset and may end up costing your estate a lot of money at your death.
I am only licensed to practice law in the State of California. As such, answers are based on an application of California law to general factual scenarios and should not be considered for any other purpose. The information presented in this answer should not be construed to be formal legal advice nor as forming a lawyer/client relationship. Individuals reading this answer are encouraged to seek independent legal counsel from an attorney licensed to practice law in their state for advice regarding their individual legal issues.