Can I Refinance My Current Reverse Mortgage?
One question Bruce has been receiving mor often lately is “Can I refinance my current reverse mortgage?” The answer is “It depends”. It depends upon your situation. There is a lot that goes into it. The lender must increase the amount of money available to you by five-times the closing costs. The good news is that closing costs on a refinance are typically much less than the first time you did the reverse mortgage.