10-25-2020 Aging Resource Guide - Flipbook - Page 20
(Note: If the student is working on a schoolissued computer, downloading software
might be prohibited.)
Learning resources
Not every grandparent or parent was expecting
to be on call for schoolwork help. Here are
some programs and additional resources for
when you need to fact-check schoolwork.
•G
rammarly is a free Google Chrome
browser extension that spell-checks and
proofreads for grammatical errors.
•K
han Academy is a free tutorial platform,
known for its short math videos that
explain concepts in various subjects. Khan
Academy now also features tutorials and
courses on subjects including science,
reading and vocabulary, history and social
studies.
• Online resources PhotoMath and
Symbolab allow you to submit a math
problem and get the solution or
explanations on how to solve the problem.
• My Math Flash Cards is an app that helps
with math facts.
• Tutoring websites can help. Bernard
recommends Starfall for younger grades
and Wide Open School.
• Your local library offers free access
to books, magazines and newspaper
subscriptions. Many libraries provide
members with robust online options,
including digital books and magazines.
• Explore the resources offered by your
student’s school and district. Many have
a homework helpline and offer free
peer tutoring, or access to digital tools
and platforms. Carroll County Public
Schools parent resource site is https://
sites.google.com/carrollk12.org/familycommunityconnections/home.
Source: www.aarp.org – Adapted from the article “A
Grandparent’s Guide to Helping Students Succeed With Virtual
Education”
5 Reverse Mortgage Myths - Busted!
The full story about reverse mortgages.
Myth 1
The bank owns my home.
Answer
The bank does not “own” your home. Just like a traditional mortgage, the bank places a lien on your home.
Myth 2
The bank can kick me out of my home by foreclosing on my home.
Answer
As long as the borrower(s) meet the requirements of the loan, they cannot be forced out. Borrower must
occupy home as primary residence and remain current on property taxes, homeowner’s insurance, the costs of
home maintenance, and any HOA fees.
Myth 3
The bank can foreclose on a home and kick out the borrower’s spouse, partner or significant other.
Answer
If the borrower no longer meets the requirements of the loan such as the home is no longer their primary residence,
they’ve passed away, or are not making the required payments (see myth 2), the loan has to be satisfied. If the spouse,
partner or significant other are not on title they will need to refinance the loan in their name or purchase the home.
Myth 4
Reverse Mortgages are for those who have no money.
Answer
A Reverse Mortgage is designed to support all socio, economic communities. In fact, individuals with a
financial advisor may, by using a Reverse Mortgage, be able to leave a larger legacy to their heirs or estates.
Myth 5
My heirs or estate will be responsible for repaying the Reverse Mortgage.
Answer
The loan is a non-recourse loan. The home is the only asset the lender can pursue to repay the principal loan
balance (PLB). The repayment amount can never exceed the home’s value (at the time of repayment).
James McCarron
NMLS: #134401
Home Equity Conversion Mortgage
Cell: (410) 804-4898
Office: (877) 756-5006
4 York St
Taneytown, MD, 21787
jmccarron@mutualmortgage.com
www.mutualreverse.com/james-mccarro
RFS.0919.141.RB
Borrower must occupy home as primary residence and remain current on property taxes, homeowner’s insurance, the costs of home maintenance, and any HOA fees. Mutual of Omaha Mortgage, Inc., NMLS ID 1025894. 3131
Camino Del Rio N 1100, San Diego, CA 92108. Subject to Credit Approval. These materials are not from HUD or FHA and the document was not approved by HUD, FHA or any Government Agency. For licensing information,
go to: www.nmlsconsumeraccess.org Delaware Lender License 028515; Maryland Mortgage Lender License 21678; Pennsylvania Mortgage Lender License 72932; Virginia Mortgage Broker and Lender License,
NMLS ID #1025894 (www.nmlsconsumeraccess.org);
Equal Housing Lender
20
2020 – 2021 Carroll County Bureau of Aging & Disabilities Resource Guide