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.
REVERSE MORTGAGE BREAKDOWN
A reverse mortgage loan or home equity conversion mortgage (HECM), is a type of home loan for homeowners who are 62 years and older. It allows the homeowner to access equity in their home in a single lump sum, a monthly cash advance, a line of credit or a combination of these methods.
YOU STILL OWN YOUR HOME.
Funds may improve monthly cash flow.
Proceeds from the Reverse Mortgage Loan can be used to refinance debt, settle unexpected expenses or supplement income.
However, the Reverse Mortgage Loan must pay off any existing mortgages or liens at closing.
Borrowers are responsible for
general maintenance and upkeep of the home
However, NO monthly mortgage payments are required.