A mortgage can be refinanced when the terms are up or if you pay a late penalty fee to end the mortgage. Sometimes this pays to do so especially if the interest rates have dropped like they have recently. But can you do the same thing with a reverse mortgage? Yes, currently you can get a line of credit for your reverse mortgage and then this will be what you take for refinancing. When your house prices go up, the amount of the reverse mortgage can be reevaluated and refinanced according to the new value of the house. This can come in handy if property prices go through the roof which they tend to do – especially as there is a no negative equity guarantee meaning you will never owe more than the value of your home. Maybe this kind of refinancing is worth a look?