Lovin' Life Business Showcase - Tucson - January 2021

Business Showcase A spotlight on local businesses that can help you live your best life after 50

January 2021

Healing Hands Come recover with ApexNetwork Physical Therapy

Providing Help

Captioned telephones keep family, friends connected

Sight is Precious Trust the doctors the doctors trust

Who created reverse mortgages in the US?

BY SHELLEY GIORDANO Excerpt from What’s the Deal with Reverse Mortgages?, 2nd Edition Rethink Press, 2019 Some people have heard that a reverse mortgage is a scheme or a scam perpetrated on helpless seniors. Others may consider a reverse mortgage a welfare handout. Many are surprised to learn that the 100th U.S. Congress initiated the modern reverse mortgage with the 1987 Housing and Community Development Act and that it was signed

by President Ronald Reagan in February 1988. The U.S. Congress tasked the Federal Housing Authority (FHA) with designing a reverse mortgage that protected the elderly but would encourage lending in the private sector as well.

In December of 1988, the Department of Housing and Urban Development (HUD) published a notice asking potential mortgage lenders to participate in a demonstration program that “will insure up to 2,500 reverse mortgages on the homes of elderly homeowners, enabling them to turn their equity into cash.” Under the HECM Insurance Demonstration, the modern reverse mortgage was born.

In this way, the FHA solved the problem of protecting both the homeowner and the lender. It modified the existing FHA insurance program to fit reverse lending. Understanding how the FHA operates in traditional lending provides a helpful comparison. Created in 1934, as part of the National Housing Act, the FHA provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. The FHA insures mortgages on single-family and multi-family homes, including manufactured homes and hospitals. It is the largest insurer of mortgages in the world, insuring over 34 million properties since its inception. In 1965 the FHA became a part of HUD. At the height of the Depression, Congress and President Franklin Roosevelt created an incentive for lenders to provide financing for certain higher-risk borrow-

ers by protecting the lenders from loss.

FHA insurance premiums were assessed on these loans and provided the funds to insure against loss. In traditional FHA loans, homeowners pay upfront and monthly insurance premiums that provide lenders with protection against losses should the homeowner default.

The FHA lenders bear less risk because the FHA will pay a claim to the lender in the event of a homeowner’s default. To qualify for insurance protection these loans must meet specific requirements established by the FHA.1 As we know, insurance is predicated on the participation of the many to cover the losses of the few. In other words, the participants pool funds (via paying premiums). These funds in turn transfer risk to the insurance entity. Ingeniously, the new reverse mortgage, the HECM, adopted the FHA insurance concept but tinkered with it in the following ways in order to adapt to reverse mortgage needs: 1. Insurance premiums are not paid monthly but are added to the loan balance.

2. The homeowner/estate is released from liability should the loan balance exceed the home value.

3. If the home value does not cover the loan balance, the lender is protected by the FHA.

As you can see, the FHA solved the problem. The resulting HECM, which includes FHA insurance, is designed to encourage lenders to finance cash disbursals, but should circumstances not go as anticipated, the lenders cannot lose on the money they have financed. Additionally, the HECM protects the homeowner (and his or her estate) from loss should the homeowner live so long that the loan balance grows beyond the home value. The consumer safeguards are substantial and are becoming progressively better both for the individual borrower and the taxpayer. Unfortunately, these HECM consumer safeguards seem to elude the financial press and many of the financial advisers on whom many Americans rely for accurate information on their retirement options.

Even with HUD’s continued efforts to refine the program, over time program weaknesses emerged. Especially during the housing bubble years, the HECM was used to bail out hopeless situations.

Some people took reverse mortgages but did not take seriously the requirement that they keep up to date on tax and insurance obligations. In other cases, a number of younger spouses not on title were displaced when the borrower died. And finally, some borrowers used the HECM irresponsibly by drawing down their entire initial credit limits at closing, leaving no cushion for falling home values. These were serious problems and jeopardized the program and its reputation. In response, the 113th Congress passed the Reverse Mortgage Stabilization Act of 2013. It was enacted in order to protect not only the non-borrowing spouses but to restore financial health to the FHA Mutual Mortgage In-

surance Fund. Over the years, the HECM program has been self-sustaining; the insurance pool was never intended to be a taxpayer bailout. When the housing bubble collapsed, however, the fund’s solvency was in jeopardy. HUD responded by changing lending standards, and the HECM, in particular, was altered significantly. As a result, the fund’s economic strength is improving.2 Financial assessments are now a basis for HECM loan approval. To counteract the effects of potential tax and insurance defaults, there are formulas to set aside equity to assure that tax and insurance costs are paid. These set-asides are required for those who cannot establish willingness and capacity to meet these basic housing obligations. To bolster program safety, limits have been placed on how much equity can be drawn early in the loan. Finally, a non-borrowing spouse (NBS) status was created to allow a younger spouse not old enough to borrow (62 years old is the minimum borrowing age) to remain in the home if the actual borrower dies. So rather than being a fraudulent scheme designed to fleece seniors, the modern reverse mortgage, aka the HECM, is a program put in place by the government of the United States. As FHA Commissioner Brian Montgomery is fond of saying, the HECM is the “law of the land.” Admittedly the HECM was not perfect at inception.

But like many financial products, the program has evolved. HUD continues to fine-tune the program to provide better consumer safety as well as improved risk management for the insurance pool.

A reverse mortgage is neither bad nor good in and of itself. Its value lies in how the borrower uses it.

Notes: 1 These requirements are listed on the HUD website: http://portal.hud.gov/hudportal/HUD?src=/ program_offices/housing/fhahistory.

2 www.reversereview.com/nrmla-news/ nrmla-news-25.html.

Call 623-202-9540 to learn more today!

Not intended as tax advice. Consult a tax specialist. Mutual of Omaha Mortgage, Inc. NMLS 1025894. 3131 Camino Del Rio N 1100, Sn Diego CA 92108. Arizona Mortgage Banker License 0926603. These materials are not from HUD or FHA and the document was not approved by HUD, FHA or any Government Agency. Subject to credit approval. For licensing information, go to: www.nmlsconsumeraccess,org #611673554 Equal Housing Lender.

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Key to Happiness

Captioned telephone keeps family, friends connected despite hearing loss

BY CAPTEL

call me, I can see everything that they say.”

Rizzi isn’t the only one who benefits from the change.

“My children are overjoyed. And so are my grandchildren,” she explains. “We talk more often now than we ever could before.”

Like so many people with hearing loss, Rizzi used to rely on others when she needed to make a phone call.

“It’s made me be independent, and I think that’s what everyone wants. To be independent,” Rizzi continues.

Best of all, people with hearing loss can qualify to get a CapTel phone at no cost with a certification from their audiologist or doctor. The captioning service is paid for under terms of the ADA, established to help people with hearing loss use the telephone.

“Being able to make my own tele-

When you can’t hear over the phone, it’s easy to feel isolated or cut off from friends and family. Especially in these times of social distancing, staying connected by phone is more important than ever. That’s where a Captioned Telephone, or “CapTel” for short, makes a big difference.

CapTel works like any other phone, but it also shows captions of everything your caller says, similar to closed captions you see on TV. If you can’t hear what your caller says, just read the captions.

For people who have difficulty hearing over the phone, CapTel is a godsend.

It lets people enjoy phone conversations again, knowing they will catch every word.

“When I first got CapTel, I was just calling all over to talk to people I hadn’t been able to talk to before,” explains CapTel user Helen Rizzi. “Now when they

phone calls is really one of the biggest gifts I was ever given,” Rizzi says. “I will be forever grateful for it.”

There are several phone models to choose from. Certification forms are available online and can be filled out remotely. Free installation support is available, as well as contact-free delivery. All

CapTel phones are proudly assembled in the United States.

If you or someone you know is living with hearing loss, a CapTel captioned telephone can make a world of difference. To learn more, call or text Ron Dreyfus at 224-261-4817 or email ron. dreyfus@oeius.org.

Can’t Hear on the Phone?

Get a CapTel Captioned Telephone at No-Cost to You!

The CapTel® Captioned Telephone shows word-for-word captions of everything a caller says, letting you read anything you cannot hear over the phone. CapTel is a NO-COST, federally funded technology available under the Americans with Disabilities Act. To qualify, users need: • Hearing loss • Internet connection • A dial tone Ron Dreyfus, your local Outreach Educator, works within our community to help people with hearing loss get a phone at no cost.

224-261-4817 CapTel.com

Ron Dreyfus, 224-261-4817 ron.dreyfus@oeius.org

REQUIREMENTS: Hearing Loss, High Speed Internet, Dial-tone No-Cost Phone with valid third-party certification is subject to change without notice. Terms and conditions may apply. FEDERAL LAW PROHIBITS ANYONE BUT REGISTERED USERS WITH HEARING LOSS FROM USING INTERNET PROTOCOL (IP) CAPTIONED TELEPHONES WITH THE CAPTIONS TURNED ON. IP Captioned Telephone Service may use a live operator. The operator generates captions of what the other party to the call says.

These captions are then sent to your phone. There is a cost for each minute of captions generated, paid from a federally administered fund. No cost is passed on to the CapTel user for using the service. CapTel captioning service is intended exclusively for individuals with hearing loss. CapTel® is a registered trademark of Ultratec, Inc. The Bluetooth® word mark and logos are registered trademarks owned by Bluetooth SIG, Inc. and any use of such marks by Ultratec, Inc. is under license. (v1.6 10-19)

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I stay well by CHOICE, not by chance.

My wellness has never mattered more.

I stay ahead of my health with an annual COMPREHENSIVE WELLNESS EXAM.

Your wellness starts with

YOU.

Contact our P3 Care Management team at 520.392.8975 P3Arizona.org www.LovinLife.com

JANUARY 2021 | Business Showcase

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In movement, anything is better than nothing

JOIN US ONLINE FOR THE FOLLOWING VIRTUAL CLASSES Tuesday

JANUARY

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THE EFFECTS OF MEDICATIONS ON SLEEP: THE GOOD, THE BAD & THE UGLY

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Jill Jones Learn the importance of sleep, how to know if you get enough good sleep and what to do if you don’t.

Monday

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If you don’t like to exercise in the morning, be flexible. Instead of skipping your workout entirely, find a few minutes to do something; something is better than nothing. The recommendation is to be active 30 minutes most days of the week.

Those 30 minutes can be broken up into 10-minute increments; we all can find 10 minutes throughout the day to be active.

10:00 a.m.

TRAIN YOUR BRAIN TO SLEEP

JANUARY

… or not; flexibility is key

With 2020 being so 2020, many of us may have been skipping our usual activity.

Don’t feel bad, though. You are definitely not alone. Being active is something that is easily put aside, especially when we are overwhelmed with so many other things happening in the world.

The thing is, staying active can help us combat many of the things that we are dealing with right now. Science shows that exercising is a very effective way to manage stress, anxiety and symptoms of depression.

With the start of a new year, it’s a great time to get back into the habit of moving your body.

Eric Bergstrom & Raveena Brar, TMC Clinical Pharmacists

Thursday

JANUARY

BY TUCSON MEDICAL CENTER

ARE YOU HAVING TROUBLE SLEEPING? 2:00 p.m.

David Sholes, TMC Sleep Lab Manager

Christopher Gist, MD, Southwest Premier Urology

Register in advance at tmcaz.com or call 520-324-1960 to receive the link for the class.

Here are a few tips on how to kickstart your workouts and get back into a routine of being active from Mary Mellady, director of Connected Health and Wellness, TMC HealthCare.

Activity vs. exercise Stop thinking of exercise as something you have to do and start focusing on activities that you get to do. Find things that you enjoy that also raise your heart rate a bit. For example, gardening can be a great form of activity.

The sooner, the better …

For more information and a full list of events, visit tmcaz.com/seniors 6

Business Showcase | JANUARY 2021

Don’t overdo it when you are first getting back into your routine. Gradually increase your time and intensity.

Mix it up with a friend Mix up your routine to avoid boredom.

Try something new with a friend. You will both benefit and have some fun, too.

Fun with the family

10:00 a.m.

WOMEN’S BLADDER ISSUES 2:00 p.m.

Slow and steady to start

Try to schedule activity as one of the first things you do each day. People who exercise in the morning tend to be more consistent.

Combine exercising and family commitments. For example, taking kids or grandkids for a walk or hiking will provide exercise as well as quality time together. Additionally, with so many kids homeschooling, being active will help with their energy levels and ability to concentrate.

Laugh it up during home workout Create a home workout routine using online resources. Or try hula-hooping or dancing to music. Remember, laughter is a part of being healthy as well.

Plan to succeed Have a plan and a goal. It often helps to have something for which you are “training.” This could be a family hike or a virtual event.

The goal is to stay active. Be flexible and mix it up.

With same-day appointments, extended hours and 18 convenient locations, TMCOne is your one stop for urgent care, primary and specialty care for adults and children. Go to TMCOne.com or call 3244900 for more information. www.LovinLife.com

Trust the doctors the doctors trust

BY SQUIRREL RIPPLEY

Fishkind, Bakewell, Maltzman, Hunter & Associates Eye Care is the professional eyecare folks have been looking for.

They would like to remind everyone of the importance of maintaining eye care and exams during a pandemic. Sight is precious.

The dedicated doctors and staff at Fishkind, Bakewell, Maltzman, Hunter & Associates Eye Care have been providing southern Arizonans with excellent care for over three decades, offering comprehensive ophthalmic services for the en-

tire family. Medical, routine, surgical and emergency services are available. The practice offers the latest technology in cataract surgery, premium lens implants and custom vision options. Learn more about how they can help you achieve greater comfort and better eyesight.

Tucson Office and Surgery Center 5599 N. Oracle Road

Oro Valley Office

10425 N. Oracle Road, Suite 135 293-6740, eyestucson.com

Fishkind, Bakewell, Maltzman, Hunter & Associates Eye Care & Surgery Center provides premier eye care services to Southern Arizona.

The doctors and staff at Fishkind, Bakewell, Maltzman, Hunter & Associates Eye Care would like to remind everyone of the importance of maintaining your eye care and exams even during the COVID-19 pandemic. Sight is Precious and our physicians provide expert care for eye diseases and treatment. Medical, routine, surgical and emergency services are available.

The Practice offers the latest technology in cataract surgery, premium lens implants, and custom vision options. •

Tucson Office and Surgery Center 5599 N Oracle Rd Oro Valley Office 10425 N Oracle Rd #135 Arizona Eye Laser Center 6837 N Oracle Rd #135

Follow us on:

www.LovinLife.com

520-293-6740

It Matters Who You See. www.eyestucson.com JANUARY 2021 | Business Showcase

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Fun and safety go together at Desert Diamond Casinos

BY DESERT DIAMOND CASINOS & ENTERTAINMENT

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Desert Diamond Casinos & Entertainment is playing it safe with the health of guests at all three of its Southern Arizona locations.

Already known as a long-time leader in entertainment, Desert Diamond Casinos now also tops the list in safety—both for guests and its team members.

The best part? The excitement and fun-filled experiences go hand in hand with the new policies. You can continue to play big, dine scrumptiously and celebrate, all while knowing that your health is a priority.

After initially closing its doors last spring to help slow the spread of the coronavirus, Desert Diamond Casinos sprang into action, overhauling its operation and developing a comprehensive approach to improve safety and satisfaction.

With recommendations from the Centers for Disease Control and Prevention serving as the guiding principle for these changes—and a keen focus on the local community’s health—Desert Diamond Casinos has served as an example of what businesses can and should do during these unprecedented times.

So just what can you expect on your visit to the Tucson, Sahuarita or Why location?

For starters, all guests must have and wear appropriate face coverings over their mouths and noses during their visit.

No mask, no entry. A no-touch temperature check is also be required before enBusiness Showcase | JANUARY 2021

tering the facility.

With those two steps complete, guests will enjoy the same quality entertainment options as they always have—just a little more spread out.

Signage and team members will be on hand to help guests follow social distancing measures. And with reduced capacity at all three locations, guests will have more elbow room to safely enjoy favorite games.

Peruse the gaming floor that keeps players safe by disabling every other slot machine or having barriers secured between games, ensuring everyone feels comfortable.

If you are more interested in the table games, you will also notice fewer seats available and new plexiglass dividers.

Plexiglass, it turns out, is a great option for friendly-yet-effective dividers.

Guests will see these in a variety of areas throughout the gaming floor, including where guests and team members may have to interact more closely.

Hand sanitizer stations are also abundantly present. Guests are encouraged to use these throughout their visit, especially when transitioning from one game to the next, or one area to another.

Special clean teams—easily identifiable by their shirts—have been formed at each of our locations. These team members continually clean high-contact surfaces, including machines, chairs and tables.

And while the casinos aren’t open 24/7 like they used to be, take heart in the fact that during the few hours each night that

they are closed, it’s because more extensive cleaning is happening—cleaning that allows the enterprise to continue to safely operate and serve its community. The Tucson and Sahuarita locations’ operating hours are 10 a.m. to midnight weekdays and closing at 2 a.m. during weekends.

The Why location’s hours are noon to 10 p.m., seven days a week.

Desert Diamond Casinos recently expanded its nonsmoking policy to the entire gaming floor. Guests looking to light up will have to hit the pause button and instead find a designated smoking area.

This change, along with maximized external airflows at all locations, is all part of the plan to keep everyone—smokers and nonsmokers—safe.

Safety is always first at Desert Diamond, which is why some amenities, such as the poker room at the Tucson location, continue to be closed until they can be enjoyed by guests in a safe manner.

As the world continues to change, so does Desert Diamond Casinos—and all for the better. Safety measures and policies at the enterprise will continue to evolve as the needs of the community, the guests and the team members change.

But for now, smile behind your mask, wave from the other side of the plexiglass, and try your luck at Arizona’s safest place to play.

Guests looking to learn more about these changes and safety measures can visit ddcaz.com/playsafe. www.LovinLife.com

ETY UN

ETY N TUCSON • SAHUARITA • WHY www.LovinLife.com

JANUARY 2021 | Business Showcase

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Come heal with ApexNetwork Physical Therapy

BY APEXNETWORK PHYSICAL THERAPY At ApexNetwork Physical Therapy, the staff provides relief from the aches and pains that keep you from enjoying life.

They listen, understand and develop customized treatment plans based on combined with your goals.

From your first appointment until your

last treatment, ApexNetwork Physical Therapy remains focused on your health and ensures your progress one visit at a time.

We are committed to providing the highest-quality care in an upscale environment with therapeutic interventions that are research based and clinically proven to improve pain and quality of life.

Experience the warm and upscale clinics with the best equipment and the option for privacy with private treatment rooms.

The physical therapists are compassionate and trained in a wide range of modalities, including, but not limited to, orthopedic conditions, post-operative recovery, neurological pathologies, pain management, athletic rehabilitation and sports performance.

The staff is taking all precautions to minimize the risk of COVID-19, and all areas of contact are sanitized after each use, a face mask is required to enter our facilities, and hand washing is readily available for patients and staff.

Come heal with us! Call one of the clinics for more information, or visit our website at apexnetworkpt.com.

The local oďŹƒces are located at 4889 W. Ajo Hwy, Suite 135, Tucson, 578-6176; and 13370 E. Mary Ann Cleveland Way, Suite 130, Vail, 689-7144.

Physical Therapy Manual Therapy SportsRehab Balance rehab Golf Rehab

Don’t let pain stop you from living life SCHEDULE AN APPOINTMENT today to get

started on yourw physical therapy journey!

APEXNE TWORKP T.COM

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Industrial Rehab Speech Therapy Dry Needling SW TUCSON, AZ 4889 W Ajo Hwy, Suite 135 Tucson, AZ 85757 P: 520-578-6176 VA I L , A Z 13370 E Mary Ann Cleveland Way, Ste. 130 Vail, AZ 85641 P: 520-689-7144

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Upgrade your home

You have goals.

We can help.

If you have equity in your home and would like to make home improvements or pay down debt, a Home Equity Line of Credit (HELOC) might be right for you. Easily access your HELOC funds with your Hughes Federal Credit Union checking account, online or by phone.

LIMITED TIME OFFER:

Hughes is waiving fees (up to $915 value)* for new HELOC applications.

Borrow $10,000 to $250,000, enjoy flexible terms and low adjustable rates plus no prepayment penalties! *

LEARN MORE

HughesFCU.org/HELOC 520-794-8341

Insured by NCUA. NMLS #411592. Equal Housing Lender.

Reaching your goals for this year is possible – with the right help. I can help you create a financial plan to help you reach your goals and ensure that your decisions are moving you forward.

Call me today to start realizing your financial goals.

Brian McKeighen WMCP® 10355 N. La Canada Dr. #197 Oro Valley, AZ 520.989.7463 brianmckeighen.fbfsadvisors.com

Securities & services offered through FBL Marketing Services, LLC,+ 5400 University Ave., West Des Moines, IA 50266, 877/860-2904, Member SIPC. Advisory services offered through FBL Wealth Management, LLC.+ Farm Bureau Life Insurance Company+*/West Des Moines, IA. +Affiliates. *Company provider of Farm Bureau Financial Services. PR-WMA-A (10-20)

DENTAL Insurance Get Dental Insurance from Physicians Mutual Insurance Company. It helps cover over 350 procedures — from cleanings and fillings to crowns and dentures. Call today to get help paying big dental bills.

• See any dentist you want, but save more with one in our network • No deductible, no annual maximum • Immediate coverage for preventive care

Call to get your FREE Information Kit

1-855-389-4273 dental50plus.com/214

Includes the Participating (in GA: Designated) Providers and Preventive Benefits Rider. Product not available in all states. Acceptance guaranteed for one insurance policy/certificate of this type. Contact us for complete details about this insurance solicitation. This specific offer is not available in CO, NY; call 1-800-969-4781 or respond for similar offer. Certificate C250A (ID: C250E; PA: C250Q); Insurance Policy P150 (GA: P150GA; NY: P150NY; OK: P150OK; TN: P150TN); Rider kinds B438/B439 (GA: B439B).

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