Can you refinance a reverse mortgage in California
Автор: Jeff Krolosky
Загружено: 2021-09-23
Просмотров: 19
Описание:
So I'll explain I'm currently in the midst of refinancing a current reverse mortgage. And I did her loan three years ago. Now, in that period of three years rates have gone down. And the mortgage insurance on the loan has gone down as well. It used to be 1.25 annually, and now it's 0.5 zeros. So that's 75 basis points right there that are that the loan is being reduced. Plus, I'm taking her from a 5.5 interest rate down to a 299 interest rate. So this is saving her and it's not a big loan. It's a small loan, but it's still saving her 20 $400 a year in deferred interest that is no longer being deferred. So well it is being deferred, but it's reduced by 20 $400 a year. So it makes a big difference, you know, over a five year or even a 10 year period, that adds up
https://www.citizensreversemortgage.com/
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