What are Reverse Mortgages?
Reverse mortgages are a type of home equity loan. This is when you exchange part of your home’s equity for cash and we record a lien against your property. What’s different about reverse mortgages is that you don’t have to make payments to JCAP Private Lending, and the loan doesn’t need to be repaid at all until you no longer occupy the residence.
How does a Reverse Mortgage work?
When you decide to get a reverse mortgage, you no longer make monthly mortgage payments. JCAP Private Lending pays YOU instead. This money can be received in a lump sum or as a line of credit. Your choice.
JCAP Private Lending loans you this money based on the current market value of your home. This allows you to stay comfortably in your home for the rest of your life, enjoying supplemental income from a home you spent years paying for.
Is Reverse Mortgage the right idea for you?
Reverse mortgages can be a great option for seniors with certain economic circumstances. Everyone is different so it’s important to consider all the factors before diving into a Reverse Mortgage.
Many seniors today are realizing that they don’t have the retirement funds they really need. A reverse mortgage can be a big life-saver by offering them greater financial independence and more breathing room to happily enjoy their lives.
This also goes for someone facing foreclosure. If you have equity in your home but have fallen behind in your payments, a reverse mortgage can save the day and help you stay in your home.
About JCAP Private Lending
JCAP Private Lending is a Direct Lender who closes and services Investor Funded Short-Term Real Estate Loans. Our experienced team has been providing quality mortgage services for over 30 years. JCAP Private Lending is an Asset Based Lender who steps in to quickly solve a short-term financial need secured by Real Estate. JCAP has an innovative approach to lending: focusing on speed, simplicity, and safety for borrowers and investors. JCAP’s operating philosophy is simple – “We Care & We Serve”