What You Need to Know About Refinancing a Reverse Mortgage
If you have a reverse mortgage, you may be wondering whether refinancing is an option. The good news is that yes, you can refinance a reverse mortgage, and doing so may offer financial benefits depending on your situation. Here’s what you need to know about refinancing, including reasons to consider it, eligibility requirements, costs, and key factors to keep in mind. Why Refinance a Reverse Mortgage? Homeowners refinance reverse mortgages for various reasons, often to improve financial flexibility or access more equity. Common motivations include: Accessing More Equity – If your home's value has increased since you took out your…