I have a reverse mortgage, not a conventional one. Can I get an extension on this under this program?
I have quite a bit more equity .
Answers | 2
If your home has simply appreciated and you want to tap into that additional equity to increase your monthly benefit or get more cash available to you, your option is to refinance the Reverse Mortgage. A Reverse Mortgage can be refinanced with a new Reverse Mortgage. You can also refinance with a traditional mortgage and pay off the Reverse Mortgage.
The home is yours like always and you choose what financing is placed on it.