By Ted Carter
Columbus-based JTS & Co. Mortgage Brokers has opened a Reverse Mortgage Department headed by Ken Freshwater.
The firm is offering homeowners 62 years and older an opportunity to use the equity in their primary residence.
They agree to cede ownership of the house in exchange for regular payments that continue until their deaths.
The arrangement gives seniors “access to the equity in their homes, tax free, without the burden of additional monthly debt,” the company says.
November 24, 2010
Banking & Finance