Page 8 - PGA Community News - May '21

Page 8, PGA C.A.N.! May 2021 May 2021

Fire Rescue Safety Tips

As the official hurricane • Create a plan for whether or not you intend to stay the house, can cause serious injury and death. Carbon
season approaches, now is in your home or go to a shelter should the storm become monoxide created by a generator is a leading cause of
the time to prepare your severe, and make sure you let family and/or friends know death related to a hurricane.
checklist for plans and your plan. Communications can become compromised The two hurricane shelters closest to Abacoa are
items to keep you, your which can make it challenging to locate you. Independence Middle School and Palm Beach Gardens
family and your property • If you have hurricane shutters for your home, don’t High School.
safe. put them up until you are advised to do so by Emergency You can get information on hurricane shelters and
It is important to be Management, and remove them when the hazards have general preparedness by visiting the website discover.
aware of, and follow passed. Leaving shutters up when they are not needed pbcgov.org/publicsafety.
notifications put out for hurricane protection can make it more difficult for Thank you and stay safe.
by Palm Beach County firefighters to gain access to your home in the event of a Steen Eriksson,Community Relations,
Division of Emergency fire or medical emergency in non-storm conditions. Professional Firefighters/Paramedics
Management, as that is the most up-to-date and relevant • If you intend to use a generator for emergency power, of Palm Beach County
information to our local area. follow all safety guidelines provided by the manufacturer. Local 2928
Things That You Can Do Now To Prepare Improper use, and running the generator too close to HOAN@iaff2928.com
• Stock up on water, nonperishable food and a well-
supplied first-aid kit.
• Make sure your smoke detectors are operational and
your fire extinguishers are in good condition.
• Have fresh batteries and battery-operated radio and
flashlights. If the power is out, it is best to save the battery
power in your smartphone for emergency use, and not use
it for weather or media apps.

Town Of

Jupiter News

Thinking in Reverse Phil & Marianne
Hindman
By Ilan Kaufer, A monthly article about the Home Equity Conversion Mortgage (HECM) also better 561-371-9972
Jupiter Vice Mayor known as Reverse Mortgage
I hope you are having a
great May and are getting Myths & Realities of HECM Loans
ready for a fun summer.
Please find below some
recent updates. As with many financial products, Home Equity Conversion Mortgage (HECM) loans can be
Vice Mayor Appointment complicated and there are a number of misconceptions about how the product works.
– Councilor May
March marked the end Do you know the myths vs. the realities?
of my rotation as vice
mayor and at our meeting MYTH No. 1 Myth No. 4
in early April I nominated Councilor May to serve in that
role for the upcoming year. The council voted unanimously The Lender owns your home The home must be free and clear of any
to select Councilor May and I have great confidence he existing mortgages
will do well in that role. FACT Like all mortgage loans, the HECM loan
Ida Simmons Proclamation is secured by a lien and you will not lose your Fact Actually, many borrowers use the HECM
On March 29, we lost a pillar in our community. Ida home as long as you continue to meet your loan loan to pay off an existing mortgage and
Simmons, whose family is one of the oldest African- obligations. You cannot lose your home under eliminate monthly mortgage payments. Paying
American families in the Jupiter area, was born in
Jupiter and lived here for over a century. Her enormous normal circumstances and as long as you pay off the existing mortgage and any other liens is
contributions to our local community will not be forgotten, your taxes and insurance and otherwise comply required as part of the loan. It is the borrower’s
and I was honored to propose a resolution in her memory with the loan terms. responsibility to continue to pay for property
that was passed by the council during the April 20 meeting. taxes, homeowners’ insurance and home
Our thoughts and prayers go out to her family, friends, Myth No. 2 maintenance.
church and community.
Medical Marijuana Dispensaries The borrower is restricted on how to use the
A majority of Council voted to discuss the current loan proceed Myth No. 5
ban on medical marijuana dispensaries in Jupiter at an Only people with financial hardships need
upcoming meeting. It is expected that discussion will occur Fact The proceeds from a HECM loan can be HECM loans
at one of the meetings in May. used for almost any purpose. Many borrowers
Brightline Fencing And Landscaping
The Town received a report from staff on the status use them to supplement their retirement income, Fact The perception that HECM loans are only
of proposed safety measures as the Town prepares for delay receiving social security benefits, pay for “financially strapped” borrowers is changing.
Brightline operations. The presentation reviewed and off high interest credit cards, pay for medical Affluent senior borrowers with million-dollar
considered fencing and landscape buffers at certain expenses, remodel their home or help their adult homes and healthy retirement assets are using
locations along the corridor. I will continue to be an children. Prudence along with budgeting should HECMS as part of their financial and estate
advocate for increased safety measures along our corridor be the proper approach to enjoying proceeds planning and are working closely with financial
and at intersections to ensure public safety.
Thank you for keeping up to date on these activities. Please received from your HECM loan. professionals and estate attorneys to enhance
make sure to follow me on social media on Facebook at www. their overall quality and enjoyment of life.
facebook.com/kauferfl and on Twitter @CouncilorKaufer for Myth No. 3
more frequent updates. Please reach out with any questions or About The Author
comments. If you have any comments, questions, or concerns Once loan proceeds are received, you pay Phil and Marianne Hindman are Reverse
about these initiatives or any other Town matters, please email taxes on them Mortgage Specialists with American Advisors
me at ilank@jupiter.fl.us.
Fact Like any loan, HECM proceeds are paid Group (AAG) working from Palm Beach
out tax free as they are not considered income. County. Branch office is located at 1452 North
However, it is recommended that you consult US Hwy 1, Suite 107 Ormand Beach FL 32174.
your financial advisor in connection with your Phil’s NMLS# 304929. Marianne’s NMLS#
reverse mortgage application. 254687. Reach them locally at 561-371-9972
Captain’s was established in 1980 servicing phindman@aag.com http://aag.expert/PhilHindman
Palm Beach County and is a privately
owned and managed company.
Captain’s is committed to providing
dependable, reliable and professional NMLS# 9392 (www.nmlsconsumeraccess.org). American Advisors Group (AAG) is headquartered at 3800 W. Chapman Ave. 3rd & 7tth Floors,
Orange, CA 92868. AAG conducts business in FL. AAG is an equal opportunity lender. These materials are not from HUD or FHA and were not
ground transportation to and from all approved by HUD or a government agency. A reverse mortgage increases the principal mortgage amount and decreases home equity (it is a negative
South Florida Airports and Seaports. PBCVH212 amortization loan)
To reserve your vehicle:
561-798-2180 or 800-634-7890 www.captainsairport.com Paid Advertisement