Page 13 - Palm City Spotlight - October '21

Palm City Spotlight, Page 13

Good worKs

Annual Meeting, New Board

Members For Helping People
Succeed

By Jackie Holfelder
The annual meeting of
Helping People Succeed recently
took place at the nonprofit’s
headquarters in Jensen Beach.
Suzy Hutcheson, chief Stacy Ranieri Rosie Portera Lorenzo Williams John Cresswell
executive officer and Glenna
Parris, gift planning officer, Thanks to the generosity of the community and the board –
discussed the challenges and which participated at a 100 percent giving level – Helping People
accomplishments of the past Succeed will be transitioning from its capital campaign to actual
year, as well as outlining the capital renovations.
organization’s plans for the An important piece of business was the nominating and
future. Lee Borellis naming of new officers and members to both the Helping People

Thinking in Reverse

A monthly article about the Home Equity Conversion Mortgage Sherry Plymale Heidi Bosley
(HECM) loan, commonly known as a reverse mortgage. Succeed Board of Directors and the Helping People Succeed
Foundation’s Board of Directors.
Phil & Marianne Hindman - (561) 371-9972 For the former, new members Heidi Bosley, Rosie Portera,
Lorenzo Williams and Sherry Plymale will join officers Barbara
Essenwine, chair; Michael Borlaug, vice-chair; Cher Fisher,
secretary; Jenny Yingling, treasurer; and members Allen
Herskowitz, Bonney Johnson and Shaun Kogut.
HELOC vs. HECM Line of Credit: The Foundation Board will welcome the addition of Stacy
Ranieri, John Creswell and Lee Borellis to the current team of
Which option is better for you? Bonney Johnson, chair; Mary Rose Bressman, vice-chair; Dale
Forbes, secretary; Claire Nash, treasurer; and Beth Prinz.
Most homeowners are aware of the opportunities and Both Barbara Essenwine and Bonney Johnson recognized
challenges of a home equity line of credit (HELOC). A Home outgoing board member Phyllis Gillespie and they, themselves,
Equity Conversion Mortgage (HECM) loan line of credit, were recognized for their past year of service as board chairs
available to homeowners over age 62, can offer greater continuing on into a second year of board service.
advantages. Here’s a comparison of the two. Like all nonprofits, Helping People Succeed’s fundraising
capabilities were severely impacted by COVID-19.
The cancellations of the White Shirt Night event in both 2020
and 2021, as well as the signature fundraiser, Pinot and Picasso
Home Equity Line of Credit HECM Line of Credit in 2020, were challenging to navigate.
However, Pinot and Picasso is back bigger and better than
ever in 2021 – on Nov. 20 – and everyone at Helping People
Payments Succeed is gearing up for a major success.
A HELOC requires you to pay a monthly No monthly mortgage payments are For more than 57 years, Helping People Succeed has been
transforming lives by realizing potential, creating hope and
interest payment, at a minimum, often required. (As with any mortgage, including building futures through education, counseling, training and
for 10 years, then amortized over the HELOCs or HECMs, the borrower must employment.
remaining 20, which can substantially continue to pay property taxes, homeowners To learn more, visit www.hpsfl.org.
increase your payment. insurance, and maintain the property.) Photos by Helping People Succeed

Line of Credit Growth • Wedding Receptions We take care of everything

Does not grow under normal Unused portion of the line of • Bar/Bat mitzvahs from Quote to Clean-Up
• Corporate Events
• Consulting
• Budget/Quote
circumstances. credit grows. • Grand Openings • Menu Creation
• Anniversaries
• Open House • Sourcing Liquor
• Office Parties • Syrups/Mixes
• Garnishes
Accessibility • Holiday Parties We Mix... You Mingle • Glassware
• Birthday Parties
• Ice
The line of credit can be decreased or Line of credit remains open as long as the • Outdoor Events • Set-Up
• Private In-Home Parties
• Service
closed without warning. borrower lives in the home and complies Private Bartending Services • Clean-Up
with all loan terms. Call to schedule of the Palm Beaches/Treasure Coast
Your Party 561-228-9021 Insured
Due Date
Typically, due at the end of 10, 20 or Due when the last borrower or eligible Answer for
30 years or if the borrower does not non-borrowing spouse leaves the home
comply with loan terms. (or does not comply with the loan terms). Crossword Puzzle
Government Backing

Not insured by the Federal Insured by the Federal
Housing Administration. Housing Administration.

Annual Fee

A HELOC often requires an annual No annual fee to keep the HECM
fee to keep the loan open. line of credit open.

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.