This option is the possibility to refinance your existing reverse mortgage. There are many reasons it may be beneficial to refinance your existing reverse mortgage. It may have been several years since you had closed, and since then, rates may have lowered or it makes more sense to switch from an adjustable rate to a fixed rate.
Refinancing a reverse mortgage can be smart for homeowners who want to get more cash or add or remove a borrower from an existing loan. Some important rules apply to refinancing a reverse mortgage. Find out the facts-and costs-before you do it. Can I Refinance My Reverse Mortgage?
The simple answer is yes, it’s possible. Refinancing can be a means of increasing the amount of money you’re eligible to receive from the loan, and it can also protect your spouse from losing the home if you pass away first. Click here to get more information about refinancing a reverse mortgage and speak to a specialist, absolutely free.
The idea of refinancing is typically associated with conventional mortgages, and for good reason! Who would ever think to refinance a loan that they don't have.
A reverse mortgage is a loan against your home that you do not have to pay back for as long as you live there.* With a reverse mortgage you can turn a portion of the value of your home into cash without having to move or make a mortgage payment each month.
To see how much you qualify for use a reverse mortgage calculator, determine how you would like to receive the money, and compare reverse mortgage offers to get the best deal. The bank loans you this money based on the current market value of your home.
refinance-reverse-mortgage.com is not acting as a lender or broker and does not make loans, loan commitments or lock-rates. The information provided by you to refinance-reverse-mortgage.com is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender.
Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage.