Does age matter to purchase a mortgage loan?
Age does not matter according to federal housing discrimination legislation age, sex, sexual orientation has no effect on lending.

What percentage would you loan on a reverse mortgage to someone 64
About 57% of the home value is available for a reverse mortgage at age 64

My mother needs to refinance 60,000 to lower her interest rate Her home is valued at $250,000 Her credit score is 670 because
If she is 62 yo or more get a reverse mortgage pay off this loan with that and have no mortgage payment. Interest rate is 2.4074 Libor. Email me I am in SF area. LM_Appel@ yahoo.com

5/1 loan details
I agree with the reply from Creative Options Financial

Do I qualify for HARP?
I could help you if you want. Cal me at 510.701.2167. I can look in public records to find out the information you need. I can't imagine your home is underater in the Belmont area. Please call me.Marty AppelSecurity 1 Lending

how long do you have to own a house to refinance
Most lenders require ownership for 12 months. Some will allow shorter times like 6 months

Can you purchase a home with a reverse mortgage
Yes you can. You must have cash to pay the difference, typically 50% of the purchase price will be covered by the reverse mortgage.