3 mortgage refinancing alternatives seniors should consider now

By CBS News | Nov 22, 2024 at 02:05 PM EST

Mortgage refinancing can save money for homeowners, but with elevated rates in 2023, seniors may consider alternatives like reverse mortgages, home equity loans, or HELOCs to access funds without compromising their existing mortgage rates. Consulting with a financial advisor is recommended for seniors with limited income.

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