As far as I am aware if yur engine fails at the DA on say an ILS you are;
200+ feet above the runway
At a landing weight not a take-off weight
Flying with lots of momentum (although landing flap does not help); and
probably some thousands of metres before the end of the TODA.
If you can't clear obstacles in the MAP from that position I think the only option is to increase the minima i.e. go arround from a higher position.
However, there could be the case of you having to go-around just as your touchdown (upset / runway infringement etc) and where would you go then?
One must remember that the MAP procedure not only gets you back to the hold without hitting any obstacles but it also keeps you within a defined profile for ATC separation purposes.
Can you tell me what airfield/procedure you are thinking of and I will have a look.
regards,
DFC