Hi Kathy,I suspect that when the President spoke of refinancing, he was referring to normal mortgages, not reverse mortgages. Most financial professionals do not recommend that you refinance a reverse mortgage, as the cost is usually too high to justify the benefits it would net you. In order to refinance the reverse mortgage, you must get a new reverse mortgage to eliminate the old one, which means that you must pay the fees associated with the reverse mortgage over again. Unless you will qualify with the new program for considerably more money than you currently receive, it probably is not worth it.We would suggest using a reverse mortgage calculator (such as the one found on our website at https://www.newretirement.com/Services/Reverse_Mortgage_Calculator.aspx ) to determine if this is right for you.