FAQ's

JTS & Co. offers reverse mortgage loans to customers throughout Mississippi and Alabama.  We are located in Columbus, MS.  Contact us today for a free consultation.

 

Q:  Who is eligible?

A:  Homeowners age 62 years or older with sufficient equity in their home.

 

Q: How can you use the money from the reverse mortgage loan?

A: Any way you see fit:  living expenses, home repair or improvement, prescriptions, or medical care.  Many use the money to pay off and replace existing mortgage or other debts, to create a nest egg in case of unexpected expenses, supplement their retirement, or just to have some financial peace of mind.  It’s up to you.

 

Q: Must you make monthly payments on your reverse mortgage loan?

A:  A reverse mortgage loan has flexible payment options.  Maintaining taxes, insurance, mortgage insurance fees, and upkeep on the home is required. Each situation is different so call us to talk through your options.

 

Q: Will you still own your home?

A:  Yes.  The homeowner retains title to the home.  And you can live in it as long as you like because the loan doesn’t have to be repaid until you leave or sell the home.  You must maintain taxes, insurance, mortgage insurance fees, upkeep on the home, and comply with the terms of the loan.

 

Q: How can you receive your money?

A: Lump sum, monthly cash advance, a line of credit, or a combination of all these methods.

 

Q: How much money can you get?

A: The amount is typically determined by your age, the total value of your home, and the equity in the home.

 

Q: Will a reverse mortgage loan affect my government benefits?

A: The funds from a reverse mortgage generally do not affect regular Social Security or Medicare benefits. However, needs-based benefits, such as Medicaid and Supplemental Security Income (SSI), may be impacted. We can provide additional general information, but you should contact a financial professional or government benefits specialist about your particular situation.

Call us! 662-329-9090

NMLS #55275
"A Mississippi Licensed Mortgage Company" 
"An Alabama Licensed Mortgage Company" 
"These materials are not from HUD or FHA and were not approved by HUD or a Government Agency"

4158 Hwy 45 North

Columbus, MS 39705

Phone: 662-329-9090

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