Page 11 - Palm City Spotlight - September '21

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Palm City Spotlight, Page 11

nonprofit neWs

United Way Community

Impact Awards Equals
Opportunities For Disabled

The United Way of Martin County recently celebrated
the investment of over $5.9 million in the local community
over the past year, ensuring children and families were
supported throughout the pandemic and beyond. The ARC
of Martin County is excited to receive two United Way
Awards in support of further education for persons with
disabilities.
Project ABLE received $29,995 in funding, to assist in
providing education and training in employable skills such
as behavioral, communication, computer, and other related
vocational skills to adult persons with disabilities who
have no other funding source for services. Participants
engage in training opportunities Monday through Friday, United Way Community Impact Grant attendees
disguised as fun activities such as music, art, dance,
cooking, volunteerism, and leadership through service.
Thinking in Reverse Youth After-School/Summer Camp is a program that
provides life empowering after-school and summer camp
A monthly article about the Home Equity opportunities for youth ages 3 to 22 years of age, diagnosed
with intellectual and/or developmental disabilities. The after-
Conversion Mortgage (HECM) loan, commonly school program, like Project ABLE, provides fun activities
known as a reverse mortgage. that are designed to teach and train. The 2021 Summer
Camp program is delighted to be offering RISE, Realizing
Independence Supporting Employment, with a focus on young
Call us today for more information! adults ages 18 to 22. RISE encompasses all the fun of summer
Phil & Marianne Hindman - (561) 371-9972 camp while also preparing for what comes next by teaching
resume writing, interview techniques and job skill training.
United Way’s $12,500 grant makes RISE, a pilot program
newly introduced this year, a reality for many young adults
with disabilities to be better prepared for their futures.
HECM Myths & Realities The ARC of Martin County, (Advocates for the Rights
of the Challenged) is a 501(c)(3) not-for-profit organization
dedicated to empowering children and adults with intellectual
As with many financial products, a HECM loan and developmental disabilities to achieve their fullest potential
can be complicated. Let’s clear up common through residential, vocational, educational, behavioral, and other
misconceptions about how the product works. healthcare services. “Our goal,” said ARC President and CEO
Keith Muniz, “is to provide support, assistance and training that
will enhance the abilities for children and adults with disabilities
to thrive each day and achieve their fullest potential.”
Do you know the facts about HECM loans? Helping people with disabilities to lead more fulfilling lives
by achieving higher levels of independence and responsibility is
an attainable goal with incredible partners such as Publix Super
Markets, Publix Charities, PepsiCo, FritoLay, Coca-Cola and so
Myth No. 1 The lender owns the home. many others that help achieve those goals of providing support,
FACT Like all mortgage loans, a HECM loan is secured by a lien, and you will not lose your home training and housing to those in our communities with special
needs. If you or someone you know might benefit from the ARC
as long as you continue to meet your loan obligations. You cannot lose your home under normal of Martin’s services, please visit our website, arcmc.org, for more
circumstances. Borrower must continue to pay property taxes, homeowners insurance, maintain programs and information. Help is a phone call away.
the home, and otherwise comply with the terms of the loan.

Myth No. 2 The borrower is restricted on how to use the loan proceeds.
FACT The proceeds from a HECM loan can be used for almost any purpose. Borrowers use them to
supplement their retirement income, delay receiving social security benefits, pay off high-interest
credit cards, medical expenses, remodel their home, or help their adult children. Prudence along
with budgeting should be the proper approach to enjoy proceeds received from your HECM loan.

Myth No. 3 Once loan proceeds are received, you pay taxes on them.
FACT Like any loan, HECM proceeds are paid out tax-free as they are not considered income.
However, it is recommended that you consult your financial advisor in connection with your United Way Community Impact Grant awards: Kherri
Anderson, Anastatia McIntosh, Tish Gelineau, Keith Muniz,
reverse mortgage application. Carol Houwaart-Diez

Myth No. 4 The home must be free and clear of any existing mortgages. Answer for
FACT Actually, many borrowers use the HECM loan to pay off an existing mortgage and eliminate
monthly mortgage payments. Paying off the existing mortgage and any other liens is required as Crossword Puzzle
part of the loan.

Myth No. 5 Only people with financial hardships need HECM loans.
FACT The perception that HECM loans are only for “financially strapped” borrowers is changing.
Affluent senior borrowers, with million-dollar homes and healthy retirement assets, are using
HECMs as part of their financial and estate planning, working closely with financial professionals
and estate attorneys to enhance their overall quality and enjoyment of life.

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/legal-information.