Refinancing and Reverse Mortgage question

Based on your desire to leave the home to your daughter when you pass, a reverse mortgage is probably NOT what you want to have. Your estate would be required to pay off the existing reverse mortgage after your passing. Based on the information you provided, you probably would qualify. You should find a local Mortgage Banker or Mortgage Broker to consult with about your options and to help you decide which option is best. With today's low interest ratges and your desire for your daughter to retain the home, a fixed rate may be the best option, and your daughter would be able to assume the mortgage if she inherit the home. She can't do that with a reverse mortgage.

Hi, My name is Brian Curl and I am a loan officer here in Louisville. I'd be glad to help you with a refinance. You can reach me anytime on my cell phone at 502-671-3468. Thanks - Brian.

Boy, there's a lot of missing information, but on the surface, you can do a refinance if you want. By refinancing on a regular amortizing mortgage, you will actually be paying more per month, but your balance would be going down... but what you really should be doing is contacting a local mortgage broker, not a bank, and have them run your scenario and show you what your options would be.. WilliamAcres.com