Here is my question..What are the benefits of refinancing a reverse mortgage?

We would need to know why you are wanting to refinance, if you are cash poor?

BenefitsoTax-Free Funds for as long as you live in your home oNo loan repayment as long as you live in your home oRetain ownership of your home for life - this is guaranteed as long as you maintain your home, and pay insurance and real estate taxes oChoose a cash flow plan tailored to your needs oUse the cash for anything you like oFHA Insured oIndependence & peace of mind

Your question is confusing.. I'm assuming you already have a reverse mortgage, and your considering refinancing into another reverse mortgage.. So it I have it right, then truly the only benefit is this.. The older you get and the more you can pull out every month.. And as time goes on, the more your home is worth, (in theory) which again, gives you more income every month... if you haven't refinance in several years, it's possible you can get more per month out of your home.. Keep in mind, that there are fees involved, and sometimes those fees can eat up any potential additional income you might obtain by refinancing.. Contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders... the LOCAL broker is familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com