Reverse Mortgage FAQs

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 for a Reverse Mortgage Loan?

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


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

A: The money can be used any way the homeowner sees fit, whether it's living expenses, home repairs/ improvements, prescriptions, or medical care.  Many use the money to pay off or replace an existing mortgage and other debts, create a nest egg in case of unexpected expenses, supplement their retirement. The money can also simply act as some financial peace of mind.


Q: Is it required for me make monthly payments on my 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. Call JTS & Co. to talk through your options.


Q: Will I still own my home?

A:  Yes.  The homeowner retains title to the home, and you can live in it as long as you would like. However you will have a loan against the property. Althoughthe loan does not 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 your loan.


Q: How can I receive my money?

A: The homeowner may receive payment in a lump sum, a monthly cash advance, a line of credit, or a combination of all these options.


Q: How much money will I get?

A: The amount you receive 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.

JTS & Co Mortgage Professional NMLS #55275 |                               


4158 Hwy. 45 North, Columbus, Ms 39705 |                                       | Fax: 662.329.9020

Office: 662.329.9090

"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"

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