Reverse Mortgage Refinancing
If you are 62 years old or older with a reverse mortgage, and are looking to tap into even more of the equity in your home, then you should consider refinancing your reverse mortgage. Determining whether or not to refinance your reverse mortgage is a tricky decision that should definitely be made with the assistance of a financial advisor. However, if your property has appreciated in value since the start of your reverse mortgage and interest rates have declined, you will likely be able to increase your cash payout by refinancing. The same holds true if federally mandated loan limits have also increased.
If you think that you might benefit from refinancing your reverse mortgage or want help understanding the process, don’t hesitate to contact us for advice.