If your dad is 60 years old, hale and hearty, is he still fit for a mortgage refinance and a new romance? Yes, of course! You might be surprised, but lenders are not averse to lending senior citizens money if they have the collateral and the right pre-qualifications. When it comes to love, it's a different story altogether.

A Refinance and Romance

If business and pleasure can mix, why shouldn't a mortgage refinance and romance blend happily when one is old and grey? Lenders are not running away from retirees. Instead, they are offering suitable refinance programs after scrutinizing monthly incomes, credit scores, appraised property values, and the amount being borrowed. If the amount to be borrowed is small, no fees will be levied on the borrower. The smaller the amount, the faster the approval of the loan.

If a mortgage refinance offers pensioners a crack at another loan, then love can't say no to a 60-year-old retiree. Love at 60 can be as exciting as the first brush with love if your dad knows how to play his card well. A refinance will save your dad money monthly, and a romance will rejuvenate his spirits. Indeed, it is never too late for refinance and romance.

What Your Dad Must Expect

The sensible reason for pensioners to get a refinance is for home improvement to further raise the equity of the property. But before your dad can gloat over the chance for a refinance, warn him of the downsides, too, such as:

* Instead of sitting pretty, he'll be paying off the refinance until he's 80 years old.

* His pension checks and other sources of income must be able to let him live comfortably after paying the monthly mortgage bill.

* To get a refinance, if he is to reduce the monthly bills significantly, he has to stay put in the property to get the maximum advantage out of the refinance.

* Have contingent plans for additional income.

In the romance department, your dad must be ready for:

* A change of heart of the beloved.

* Intrusion of adult children into the relationship.

* Sex may pose problems.

* A drastic change in lifestyle.

Knowing the cons can help your dad go into the details of a mortgage refinance and romance with eyes wide open. At his age, he should be more understanding and patient, but he must be able to take nasty surprises in stride. Fortunately, there's the citizen's advice bureau that can resolve some mortgage problems.

Your Dad's Last Hurrah?

There are possible scenarios for your dad's mortgage refinance, which you can discuss before he goes full speed ahead into another repayment term. Check his current finances and evaluate his capability to repay and to live comfortably on the rest of his pension and other income. The matter should also be discussed with other siblings. Remember, your dad is 60 years old! And when a refinance and romance comes in, there will be a ruckus.

Understanding his needs will make your dad a happier man, but advise him to get a fixed rate mortgage and an emotionally stable woman who can give him the companionship he craves. Don't overestimate your dad's capacity, though. He can still pack in a few punches for a mortgage refinance and a sizzling romance. He sure does deserve a break.