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QUESTION:
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Refinance your home if you have already received a reverse mortgage. | | Can you refinance your home if you have already received a reverse mortgage? |  | asked by Patsy Rose Adams, 7/3/2009 |
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Categories:
Medicare, Health and Health Care, Reverse Mortgages, Longevity Calculator, Debt and Mortgages, Retirement Assets, Government and Union Retirement Benefits, Medicare Supplemental Insurance, Asset and Income Protection Insurance, Health Insurance, Life Insurance, Federal Employee Retirement System - FERS, Annuities, Late Stage Retirement, Aging, Retired, Prescription Drug Coverage, Social Security, Debt
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| ANSWERS: | | Answered by: Editorial, 07/09/09
Overall Rating:  Be the first to rate it. | If you have received a Reverse Mortgage then you have paid off all other mortgages on your home.
You may wish to contact your RM lender and discuss Reverse Mortgage refinancing. Depending on when you originally did your Reverse Mortgage and the terms you secured, this may indeed be a good time to refinance.
Lending limits are higher now than ever before and interest rates are still low.
The only potential issue may be that your house value may be down.
If you wish to work with a new Reverse Mortgage lender, you may find one here:
https://www.newretirement.com/Services/Reverse_Mortgage_Advice.aspx Login to rate this answer: | | Answered by: whyhecm, 08/24/09
Overall Rating: Be the first to rate it. | Refinancing your FHA Reverse Mortgage is an option depending on your current situation. We have a reduced fixed rate of 5.56% for a limited time which will help also.
Feel free to contact me with any questions.
Anthony Limon
www.whyhecm.com
anthony@whyhecm.com
866-640-5722 ext. 126 Login to rate this answer: |
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