Page 4 - PGA Community News - June '21

Page 4, PGA C.A.N.! June 2021 June 2021

Let Me Tell You

The Way It Was ... A Dose Of buses, an art paradise, and historical statues everywhere. was pristine land into a graveyard. How long will it be
before our country will no longer be a safe place in which
Apparently, none are being torn down.
Nostalgia On the last evening of that trip, we had dinner at The to escape? Do we turn a blind eye and deaf ear and allow
Villa Fontana, one of many fine restaurants, located in a large that to happen? I hope not.
By Marie B. Pinschmidt colonial hacienda. Not only did we enjoy a delicious meal This was not meant to be a travelogue, I hope you enjoy
These days when we think, but were romantically entertained throughout the evening by this memory essay although it is a smidgen of what the
or are reminded, of Mexico, strolling violin players. Do these places still exist? I wonder. country once was, and I hope still has to offer. No matter
we think of the illegal Now for the sad part: Guadalajara, an ancient city a how hungry we become for good news, I suppose we can
immigration at our southern few miles from Mexico City, once a cultural-rich city with always feed on a good dose of nostalgia.
border, smuggling of drugs architecturally beautiful churches, hotels, and restaurants, Until next time…
as well as humans, small where even the peacocks walked peacefully among P.S. After writing the above, I just read on my iPhone
children being dropped over visitors, is now a city of incomprehensible cruelty and that Mexico City is the fastest sinking city on earth,
walls, drug cartels making grief. In the ’80s it was referred to as the “chemical city.” affecting 9.2 million people, but it may take another 150
billions from their nefarious El Capo and El Mincho have left their sad footprints. I years. Look it up for more information.
activities including murder. recently read of bags of heroin, paraphernalia, etc., as well Marie Pinschmidt,
At the same time, Mexicans, as fragments of human skeletal remains now scattered in (561) 624-9003,
Guatemalans, and others keep our landscaping beautiful, and the fields and forests around the city, turning what once MariePin001@comcast.net
our homes clean. For that we are grateful.
I have a different view or memories of both countries – the
way they once were. In the ’60s and ’70s, my husband and I
made several trips to Mexico City to attend the International Thinking in Reverse
Congress of Ophthalmology, but also for short vacations –
just a hop and a skip from our home in New Orleans. We A monthly article about the Home Equity Conversion Mortgage
observed much of the beauty and absorbed much of the
culture on these visits. Not once did we get the “Montezuma’s (HECM) loan, commonly known as a reverse mortgage.
revenge” ─ our only concern. My main concern was inability
to speak Spanish, to which my husband responded thus: “You
only need to know two words – no gracias.” He was referring Phil & Marianne Hindman - (561) 371-9972
to the many natives selling their wares at airports, markets,
etc., a gentle hint to not spend too much money. I have since
learned at least to order coffee.
Instead of booking into one of the modern, American- HELOC vs. HECM Line of Credit:
style hotels on the Paseo de la Reforma – the main
thoroughfare ─ we checked into the Maria Christina Which option is better for you?
Hotel, within walking distance of the Reforma and the
Zona Rosa – a popular shopping area. To cross on foot Most homeowners are aware of the opportunities and
the multiple lanes of the Reforma was a life-threatening challenges of a home equity line of credit (HELOC). A Home
gamble. Traffic lights were often ignored, cars missing Equity Conversion Mortgage (HECM) loan line of credit,
each other by mere inches; there was a constant blaring available to homeowners over age 62, can offer greater
of horns. The Maria Christina was an old but classic advantages. Here’s a comparison of the two.
Mexican-style hotel with a mere 150 rooms compared to
the 700-plus rooms of the Camino Real on the Reforma.
It was small but charming. “When in Rome do as the
Romans do.” Our second-floor room looked out over a Home Equity Line of Credit HECM Line of Credit
garden with fountains, flowers, and tables with glowing
candles. It was also directly over the pub. From our open-
windowed room we enjoyed the lively and exotic sounds Payments
and voices from a mariachi band in the courtyard below. A HELOC requires you to pay a monthly No monthly mortgage payments are
Very romantic.
We toured the extremely impressive Museum of interest payment, at a minimum, often required. (As with any mortgage, including
Anthropology with room after room filled with displays of for 10 years, then amortized over the HELOCs or HECMs, the borrower must
Mayan and Aztec culture. The Museum of Modern Art in remaining 20, which can substantially continue to pay property taxes, homeowners
Chapultepec Park was a special treat for me – a beginning oil increase your payment. insurance, and maintain the property.)
painter. Gigantic landscape paintings by Jose Marie Velasco
were particularly impressive. Diego Rivera, a famous Line of Credit Growth
Mexican artist, with an observant eye and quick strokes
captured the very essence of his country and its people. Does not grow under normal Unused portion of the line of
We saw many of his murals on public buildings – they circumstances. credit grows.
seemed to be everywhere – a way to directly communicate
his vision to his people. His murals covered three walls in
the Palacio Nacional where we attended the fabulous Ballet Accessibility
Folklorico de Mexico. The next day, we were treated to The line of credit can be decreased or Line of credit remains open as long as the
a luncheon on the roof garden of “Maximillian’s pad” ─
Maximillian’s Palace just off Chapultepec Park ─ itself a closed without warning. borrower lives in the home and complies
marvelous example of historical Spanish architecture. The with all loan terms.
performers of the ballet walked among the tables to provide
an up close and personal view of their impressive costumes. Due Date
Years later, Norm and I attended their performance at the Typically, due at the end of 10, 20 or Due when the last borrower or eligible
Kravis Center, smaller in number than the original, but still 30 years or if the borrower does not non-borrowing spouse leaves the home
very enjoyable.
Another place to enjoy near Mexico City is Xochimilco comply with loan terms. (or does not comply with the loan terms).
Gardens, where you can ride beautifully decorated boats
through a series of wide floral-lined canals and listen to Government Backing
live marimba music. It was a happy, joyful way to spend an Not insured by the Federal Insured by the Federal
afternoon, although I had to say “no gracias” many times. Housing Administration. Housing Administration.
The Latin America tower, Torre da Latina Americana,
was a thrill although I am a bit squeamish of heights. On
the 38th floor it houses the world’s highest aquarium in Annual Fee
a beautiful restaurant where we had dinner. Afterwards,
we viewed the huge city from the observation deck on A HELOC often requires an annual No annual fee to keep the HECM
the 44th floor. The city is enormous, extremely busy, fee to keep the loan open. line of credit open.
with the largest public plaza in the world, double-decker

About the Author: Phil and Marianne Hindman are Reverse Mortgage Professionals with American Advisors Group (AAG)
working locally in Palm Beach County. Their branch office is located at 1452 North US Hwy 1, Suite 107 Ormand Beach, FL 32174.
Phil’s NMLS ID: 304929. Marianne’s NMLS ID: 254687. You can reach them locally at: (561) 371-9972 | phindman@aag.com
http://aag.expert/PhilHindman
NMLS# 9392 (www.nmlsconsumeraccess.org). American Advisors Group (AAG) is headquartered at 18200 Von Karman Ave., Suite
300, Irvine, CA 92612. AAG conducts business in FL. AAG is an equal housing lender. These materials are not from HUD or FHA and
were not approved by HUD or a government agency. For full legal disclosure, visit www.aag.com/lega-information.