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September 8th, 2011  

Hello Readers! 
This Edition of ActiveLivingNewsletter celebrates the 5-Year Anniversary! 

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HECM for Purchase : An Important Mortgage Option
Special Focus on Siena in Summerlin, Nevada
iRefuse2Age - Centenarian Role Models
Spotlight Communities
Classified Rentals & Sales
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Summit Homes, Pennsylvania

HECM For Purchase : an important mortgage option


HECM For Purchase: an important mortgage option

A reverse mortgage is an important option that can help homeowners age 62 and older improve their lives.  However, many people aren't aware that a reverse mortgage can be used to purchase a home through the Home Equity Conversion Mortgage (HECM) for Purchase program.

So, what exactly is a HECM for Purchase?  Simply put, a HECM for Purchase helps you purchase a home by taking out a reverse mortgage on that home, without the financial impact of monthly mortgage payments.*  Borrowers may, for example, use a HECM for Purchase to relocate to a home that's closer to family members, more physically accessible, or "right-sized" for their needs.

"A HECM for Purchase is a great option for older adults, because it can help them attain a house that's right for their needs without having to go through the traditional mortgage process - and their credit history and income are not a factor" says Bill Thomas, Reverse Mortgage Consultant for MetLife Bank.

HECM for Purchase: the facts

  • A HECM for Purchase enables borrowers to buy an existing one- to four- unit home or condo by taking out a reverse mortgage on that property.
     

  • The loan proceeds are applied toward the home purchase.  In one transaction with one closing, the buyer uses cash on hand to make a substantial down payment (usually 40% to 50%) that covers the property's sale price and closing costs minus the HECM proceeds.
     

  • As with any reverse mortgage, the loan must be repaid - including the principal plus accrued fees and interest - when the last surviving homeowner permanently moves out of the home or passes away.
     

  • The borrowers - not the bank - own the home, and can continue to live in it for as long as they want.  The homeowners must continue to pay property taxes, have homeowners insurance and maintain the home.
     

  • A U.S. government guarantee ensures that the borrowers and their estate will never owe more than home's fair market value.  If the home is sold for less than the loan balance due, the U.S. Department of Housing and Urban Development (HUD) will pay the lender the shortfall.  If it sells for more than the amount due, the borrowers or their estate keeps the net proceeds.

There is a lot of information and resources available to help you learn more about the HECM for Purchase process.  MetLife Bank offers free, educational materials to consumers who may be interested in a HECM for Purchase or would like more details.  For more information about a HECM for Purchase from MetLife Bank, contact at (866) 808-2019.

"A HECM for Purchase can free up your money for other needs, and it's a great way to get more out of life," notes Thomas.

Only applicable for the purchase of a single family unit dwelling to be occupied as a principal residence.
Program, rates, fees, terms and conditions are not available in all states and subject to change.
*Although there are no monthly mortgage payments, interest accrues on the portion of the loan amount disbursed.
All loans are subject to property approval.  Certain conditions and fees apply.
Mortgage financing provided by MetLife Bank, N.A., Equal Housing Lender.
©2010 METLIFE, INC R0610111506[exp0611][All States][DC]
 

Noble's Pond, Delaware

Siena in Summerlin, Nevada


As you turn up the main drive and approach the charming guard-gated entrance  you begin to feel the enchantment of another world. A world designed for relaxation and rejuvenation. Siena. Take in the championship 18-hole golf course, its first fairway bordering a series of pristine lakes with waterfalls.

Wander meandering footpaths past the Village Center where a lavish spa and Fitness Center await.  Celebrate the setting sun with a relaxing sauna, rejuvenating  massage, or refreshing repast on the terrace overlooking the green.

It’s a world of glorious ease. Lushly landscaped grounds and spacious private yards complement beautifully appointed homes, many of which front scenic fairways, mountain panoramas or the glittering lights of the Las Vegas Strip. Prices range from villas as low as $150,000 with 1100 square feet to single family homes on the golf course priced under $1,000,000 with 3200 square feet. Built buy Sunrise Colony, Siena represents the latest generation of resort community design, giving sophisticated buyers an opportunity to fulfill their dreams.   Siena, Siena Golf Club

COMMUNITY AMENITIES

  • Two 24-hour manned guard gated entrances

  • Private community with an 18-hole, championship Schmidt-Curley designed golf-course
     

  • The 71,000 square foot Siena Village features the Golf Club, Village Community Center, and Health & Fitness Center
     

  • The 14,800 square-foot Golf Club includes a spacious full service golf shop, dual-tiered practice facility, and The Siena Grille, a casual dining room with a patio overlooking Lake Siena, the 18th green, the 1st and 10th tees, and the Las Vegas Strip beyond
     

  • The 39,000 square-foot Village Community Center includes a 5,000 square foot ballroom and stage facility, nearly 9000 square feet of arts and crafts area, meeting rooms, business center, computer lab and billiard and card rooms

  • The 17,500 square  foot Health & Fitness Center offers state-of-the-art cardiovascular and weight equipment, indoor lap swimming pool and spa, gentlemen’s and ladies’ locker rooms, each with its own sauna, steam and massage rooms
     

  • Adjacent to the Health & Fitness Center are an outdoor resort swimming pool and spa, a tennis club with four lighted courts and bocce ball courts
     

  • Lake Siena is over a quarter-mile long and features 40 feet of waterfalls

Siena is located within the award winning master planned community of Summerlin. Click for more information on this gorgeous community, or contact Lynn directly:
     

Lynn Marie Carlson
Certified Residential Specialist
Prudential Americana Group
Direct: 702-236-6422
Email Lynn
Web site www.LynnCarlson.com

     

Solivita, Poinciana, Florida
Spotlight Communities
Spotlight Communities
Listening to Van Gogh : A Coming of Age Retirement Age Novel


Listening to Van Gogh: A Coming of Retirement Age Novel

Retirees travel the Rhone river to Arles in Provence where Vincent van Gogh painted. During the river boat journey, they discuss their common concerns and approaches to the retirement transition.

Visit www.listeningtovangogh.webs.com for details.

Author’s email outsource@mindspring.com

Available on Kindle www.Amazon.com/Kindle

(Sept-Dec)

i Refuse 2 Age : Centenarian Role Models


Centenarian Role Models
Michael Brickey, Ph.D

Role models teach us and inspire us. As a kid you probably had lots of heroes and role models. You need them as an adult as well. Role models are a short cut from learning by trial and error. If you want to know how to age well, look at today’s centenarians.

The New England Centenarian study found that most of the centenarians they studied were mentally and physically sharp. Most did not have a disability until the last four years of their lives. They averaged one prescription medication. Typically, they died at home from an acute illness or a fall.

Here are a few of my favorite centenarian role models:
Sadie and Bessie Delany’s father was a slave who was freed after the Civil War. Their careers eventually took them to Harlem where Sadie became a teacher and Bessie a dentist. Neither married. They loved reading, learning, and friends. They refused to have a television set or phone at home. When Sadie was 102 and Bessie 100, a reporter interviewed them. The reporter was so smitten with their vitality that she persuaded them to write a book. Their book, Having Our Say, became a best seller and a successful Broadway play and later yet a CBS Television movie. They wrote another best selling book, The Delany Sisters’ Book of Everyday Wisdom. When Bessie died at home at age 104, Sadie wrote On My Own at 107: Reflection of Life Without Bessie. At age 109 Sadie died in her sleep at home.

George Dawson, grandson of a slave, started working at age eight to help support his family. He “got tired of writing my name with an X” and learned to read and write at age 98. At 102 he co-wrote his autobiography, Life is So Good.
At 89 Selma Plaut started auditing courses at the University of Toronto. She graduated with a bachelor’s degree when she was 100. English wasn’t even her native language as she was a Jewish refugee from Nazi Germany.

Grandma Moses began painting rural scenes for her own pleasure in her late 70s. Without formal art training, her work became internationally acclaimed and she was still painting at 100.

Dr. Henry Stenhouse ran for Congress when he was 100. Other centenarians teach college, conduct symphony orchestras, paint, sculpt, dance, and even father children. One of the best sources for profiles of centenarians is the book, Centenarians: The Bonus Years by Lynn Peters Adler. Centenarian role models certainly illustrate that you are never too old to do what you love or even to start a new career.

There are few physical traits that distinguish centenarians. They are physically active, most do not smoke, and most maintain their same weight throughout their adult life. About the only thing that characterized their diets were that most ate a wide variety of foods.

The centenarian traits that stand out are mental traits. They are very independent, self-reliant individuals with a strong sense of purpose. They have a good sense of humor and are good at dealing with loss and change. They have a passion for life.

The centenarian spirit is illustrated in a joke--A centenarian goes to the doctor complaining of a pain in his knee. The doctor said, “At your age what can you expect?” The patient replied, “To fix my knee. My other knee is the same age and it works fine.”

The oldest person with good documentation of her age was Jean Calment. She lived in Arles, France and died in 1997 at age 122. She was always a physically active woman who wasn’t overly concerned about others’ expectations. She had a good appetite–not just for food but for everything. She never had fluctuations in her weight. She smoked a few cigarettes a day until she was 117 when she quit on her own initiative with no explanation. She enjoyed port wine and chocolates. She still rode a bicycle at 100. Part of her “secret” was that “I never get bored.”

At 109, largely because of visual limitations, she moved into a retirement home where her diet was unappealingly institutional. Her biographer reports that she never adjusted to the facility’s routines nor they to hers. She would wake herself at 6:45 a.m. and begin her day with prayer and exercise. Her days were very self-structured. Although virtually blind, she got around the facility faster than most of the other residents. Failing vision and hearing compromised the quality of her last years. She declined eye surgery for the severe cataracts in both of her eyes. She might have lived considerably longer and better if she had taken a daily vitamin most of her life, did not smoke, and had the cataract surgery. The surgery would have allowed her to be more active and mobile. Her life is described in the biography, Jeanne Calment: From Van Gough’s Time To Ours: 122 Extraordinary Years.


There is an amusing anecdote about her finances. When she was 90, she entered into a contract with an attorney. He agreed to pay her $500 a month (“en viager”) for the rest of her life and he would own her apartment in Arles when she died. She lived to 122. He died at the age of 77 after paying over $184,000 (far more than the apartment’s value). His widow continued paying after his death.

George Burns booked his act past his hundredth birthday to mentally suggest to himself that he would live that long (and he did). As he put it, “You can’t help getting older but you don’t have to get old.” He also quipped, “With a little luck, there’s no reason why you can’t make it to be 100. Once you’ve done that, you’ve got it made, because very few people die over 100.” Research agrees with Mr. Burns. Mortality rates are lower for people in their hundreds than for people in their nineties. We all need goals and achievements to look forward to. Unfortunately, Burns did not schedule a party for his 101st birthday.

Dr. Michael Brickey is President of the Ageless Lifestyles Institute and author of Defy Aging. His new book, 52 baby steps to Grow Young, gives two-page-a-week practical steps for developing a youthful mindset at every age. Further information is at
www.DrBrickey.com and www.52babysteps.com.
 

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Links of Interest
Newsletter Archive

NEWSLETTER ARTICLES 2010-2011 - Click for archive

July 2011 - Stonecroft Village, Pennsylvania
July 2011 - Winnapaug Cottages, Rhode Island
July 2011 - Fieldstone Village, Connecticut
June 2011
- Southern Meadow, Delaware
June 2011 - Home Towne Square, Pennsylvania
June 2011 - Cornerstone Homes, Virginia
May 2011 - Heritage Shores, Delaware
May 2011
- SaddleBrooke, Arizona
May 2011
- Nobles Pond, Delaware
April 2011
- The Villas of Wake Forest & The Orchard Villas, North Carolina
April 2011
- Siena in Summerlin, Nevada
March 2011
- The Fairways at Savannah Quarters, Georgia
March 2011
- Active Adult 4 Less Part XXII
February 2011
- Active Adult 4 Less Part XXI
January 2011
- Active Adult 4 Less Part XX
December 2010
- Active Adult 4 Less Part XIX
November 2010
- Active Adult 4 Less Part XVIII
October 2010
- Active Adult 4 Less Part XVII
September 2010
- Active Adult 4 Less Part XVI
August 2010
- Active Adult 4 Less Part XV
July 2010
- Active Adult 4 Less Part XIV
June 2010
- Active Adult 4 Less Part XIII
May 2010
- Active Adult 4 Less Part XII
April 2010
- Active Adult 4 Less Part XI
March 2010
- Active Adult 4 Less Part X
February 2010
- Active Adult 4 Less Part IX
January 2010
- Active Adult 4 Less Part VIII

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