Older homeowners who decide to refinance are frequently getting hit with a heavy, hidden markup—what financial experts are now calling the “Seniority Tax.” According to a comprehensive report published by Bankrate, older refinancers consistently overpay compared to younger applicants. While extended terms are rarely ideal for older homeowners, aggressive lenders and sales pitches frequently lock seniors into these commitments anyway. Other tactics involved cold-calling older homeowners and suggesting they refinance just to skip a single monthly payment to fund a “trip to visit their grandchildren.” Sources UsedBankrate: The refinance ‘Seniority Tax’: How a flawed system and aggressive lenders leave older homeowners overpaying for their mortgage https://www.bankrate.com/mortgages/refinance-seniority-tax/DisclaimerArtificial Intelligence Disclosure & Legal DisclaimerAI Content Policy.