What is it?

A Reverse Mortgage will enable you, a homeowner at least 62 years of age, to borrow against the equity in your house. You will get paid back a portion of the value that you have already invested in your home --- that's the "Reverse" part.

There are never ANY repayments of this loan to be made until one year after you die, sell or permanently move out of the home.

You will keep the title to your home, live in it as long as you like, while taking cash dispersals as either a lump sum, a monthly income, a letter of credit --- or a combination of all three.

Reverse mortgage lenders will require that you continue to pay your property tax, while you maintain, repair and insure your home.

As the FHA / HUD Home Equity Conversion Mortgage (HECM) program is backed by the U. S. government, you or your heirs will NEVER owe more than the value of your home.

Am I qualified?

There are NO income, employment or credit requirements for you to borrow against the equity in your own home.

You must be at least 62 years of age and occupy your home as your primary residence. Single family houses, townhouses, condos and some mobile and manufactured homes that meet minimum HUD standards are eligible for a Reverse Mortgage.

How much can I borrow?

This calculation is based on:

1. The age of the youngest borrower*.
2. The appraised value of your home*.
3. The interest rate on one year US Treasury Bonds*.
4. The county in which you live.
5. Whether you choose government insured or the jumbo mortgage (if your home is appraised for more than $500,000).

* At the core of this formula is the premise that the older you are, the more your house is worth and the lower the interest rate charged the more money that you may borrow.

What can I do
with the money?

These tax-free funds are yours to use as YOU CHOOSE. Options range from paying off your existing mortgage(s), healthcare costs, home repairs & improvements, travel or ANYTHING that you want or need.

Why would I even consider doing this?

Aging IS inevitable. Becoming dependent on friends, relatives and charity is NOT.

However, if "Elder Independence" and "Aging in Place -- with Dignity" are our goals then we all might benefit by learning about the reverse Mortgage process.

The obvious benefit to you might be the important step toward FINANCIAL INDEPENDENCE, but most reverse mortgage owners emphasize the RELIEF FROM THE STRESS that comes from being an aging American homeowner.

Where can I get
more information?

AARP
601 E St. NW, Washington, DC 20049
www.aarp.org
800-209-8085

US Dept. Of Housing & Development
www.hud.gov
888-466-3487

National Council on Aging
300 D St. SW
Washington, DC 20024
www.ncoa.org
202-479-1200

National Reverse Mortgage Lenders Assoc.
1625 Massachusetts Ave. Washington, DC 20036
202-939-1760
www.reversemortgage.org

Reverse Mortgage Guides
www.reversemortgageguides.org
800-976-6211

Get Started

Fill out this form and our reverse mortgage specialist will contact you.

Name of Property Owner 1:

Name of Property Owner 2:

Age of Youngest Owner:

Your Zip Code:

Estimated Home Value:

Total Loan or Lien Amounts:

Phone Number:

Email Address:

Additional Comments or Questions:

Pete Miller

Pete has been in the Financial Services Industry for more than forty years. He joined Avery Financial Group as our Reverse Mortgage Advisor in 2008 prior to which he was employed in many capacities on the Investment side of the business in Anchorage, Alaska. He's committed to using his consulting experience to explain the features and benefits of the Reverse Mortgage solution to his contemporaries. He understands well the notion of "aging gracefully at home" and is working hard to explain how this mechanism might well be the last stop in your path to financial security.

Pete and his wife Denise have five children and ten grandchildren sprinkled throughout the Northwest in Portland, Seattle and Anchorage. They are active in the community involved in a variety of civic and church activities. They enjoy their time in the outdoors; camping, rafting, skiing, snowshoeing, but most often fly fishing the wonderful trout steams here in the Idaho Falls area. They are both often found running or walking our local parks and paths in the company of their four year old Yellow Lab "Nugget"; so wave, stop and introduce yourself to Pete. He'd love to be of help!

Denise Miller

Originally from London, England, Denise spent 40 years in Anchorage, Alaska before retiring to Idaho Falls.

For most of those years as an Alaskan, Denise owned and operated a series of beauty salons and spent many hours volunteering with Senior Citizens and Special Needs children. When her husband Pete Miller asked her to join him as a licensed Reverse Mortgage Advisor she accepted, welcoming the opportunity to be of help in her new community. Being 70 years old Denise knows the costs of aging and the efforts required to not be a burden to the children. "Living an independent life is most important to us all" is a goal that Denise often uses to emphasize the value of the Reverse Mortgage process. She will help you to reach that goal!

For a consultation, please call her direct line in the
office: 208-524-9827 or her cell: 208-709-2809.