Cut teeth into one end which will serve as the business end of your hole saw.
Using a wood guide and your drill, cut the screw out.
Make a Custom Holesaw to Remove Stripped Screws| Fine HomeBuilding (YouTube)

Cut teeth into one end which will serve as the business end of your hole saw.
Using a wood guide and your drill, cut the screw out.
Make a Custom Holesaw to Remove Stripped Screws| Fine HomeBuilding (YouTube)
