Should You Refinance Your Mortgage If You’re Near Retirement?

It’s tempting to refinance, given today’s low interest rates. Switching to a new loan with a lower refinance rate can cut your monthly payments and free up money for other needs.

But what if you’re close to retirement — does refinancing carry any special risks? We asked financial advisor Laura Scharr-Bykowsky, a member of NerdWallet’s Ask an Advisor network, about the pros and cons of this strategy. READ MORE

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