It is worth refinancing a mortgage if another bank offers you a lower loan rate and, as a result, your monthly payment will be less than in the current bank. And yes, if you have a bad credit history, there are delays and fines, then your loan will not be refinanced. In this case, I can recommend you to pay attention to the reverse mortgage. Firstly, for example https://goodlifehomeloans.com/resources/new-lending-limits-for-reverse-mortgages/ here are much wider and you can count on a larger amount of money. You will receive a certain amount of money from the bank every month for "renting" your home. This works if you have a family member over 60, that is, a father or grandfather can do this. But the whole family will benefit and life will be much easier for you.
It's easier to save money
Anyone ever do a mortgage refinance using one of the various online lenders as opposed to a local lender? If so, how did it work and compare? Any words of advice on things to consider that might not be obvious?