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.
What is a Reverse Mortgage Loan?
A reverse mortgage loan or home equity conversion mortgage(HECM) is a type of home loan for homeowners that are 62 and over. A HECM Reverse Mortgage Loan allows the homeowner to access existing equity in their home to provide a lump sum pay out, and/or monthly equity distribution, or even perhaps a credit line to be accessed in subsequent years. The proceeds from a reverse mortgage can be used however the homeowner chooses to do so.
Proceeds from the Reverse Mortgage Loan can be used to refinance debt or settle unexpected expenses.
The Reverse Mortgage Loan must pay off any existing mortgages or liens at closing.
Funds may improve monthly cash flow.
Requires no monthly mortgage payments, however Borrowers are still responsible for property taxes, homeowners insurance and maintenance costs.
A Reverse Mortgage Loan may be a good option for you. If so, give us a call or contact us to set up a personal proposal based on your specific criteria.
We can't wait to talk with you!