How the HECM financial tool is helping Middle Village Residents

innovativeequityp3AD2The retirement landscape is changing as we speak.

Longer life expectancy, rising health care costs, unstable market returns, and inflated cost of living increases over the last decade are just a few of the issues confronting retirees who’s ultimate fear is the fear of “outliving their money”

Middle Village Resident, Mark Fuchs, is making sure that his local community is aware of the financial tools available to them.

Mark’s financial firm, Innovative Equity Solutions, is a firm who’s primary objective is to provide seniors and their families with honest and caring service, while educating them on all aspects of Home Equity Conversion Mortgages (HECM’s).

If you are a homeowner, and at least 62 years of age, a Home Equity Conversion Mortgage can give you the

images-2extra cash you need to live comfortably. By accessing the equity in your home, A HECM will grant you a line of credit, monthly payments, or a partial or lump sum payment.  An untapped line of credit becomes an increasing supply of tax-free cash that can be used any way the homeowner chooses.

This means that if you are granted a HECM, and you leave the line of credit available, it can protect you from a housing market crash or if the value of your house goes down.


To highlight ways that a HECM can help you, Fuchs provided three case studies:

Mr. and Mrs. Smith from Middle Village, Queens were living on a fixed income based on withdrawals from their portfolio. They thought they had more than enough money when they retired, but at 80, they realized that that their withdrawals in a down market would eventually deplete their portfolio. They were worried about outliving their money, so they applied for a HECM and received a 0 closing cost line of credit. Since then, they were able to to manage better through a volatile market and strengthen and lengthen their retirement portfolio.

In this example, a HECM prevented the couple from being forced to sell their portfolio assets in a bear market. The HECM allowed them to draw money from their home while allowing their portfolio to grow.

In the next example, Mr. Jones from Middle Village rented a vacation home in Lake George for 2 weeks every summer. Jones always wanted to buy the vacation home, but did not have enough cash. He did have 700k in equity from first home, so he qualified for a 300k HECM, and was able to buy his Lake George dream home with cash. Now he and his family spend weeks at a time there, and both homes are continuing to gain in value.

In another example, Mr. Thomas, a 90 year old retired fireman, needed care but did not want to go into a nursing home. Although he was receiving a sizable pension and social security, it was not enough for the around-the-clock home care he needed. His children decided that it would be best for him to tap into the equity in his Forest Hills, Queens home. Monthly HECM Tenure payments enabled him to make up the shortfall. He is now able to stay in the comfort of his own home and receive the care he needs.


images“We approach Reverse Mortgages as a “family affair”, specifically involving all members of a senior’s family, and their trusted advisors to make sure the decision is the right decision for the senior and their families,” said Mark Fuchs, Founder and President of Innovative Equity Solutions.

You can contact Mark Fuchs at 917-705-8919 or email him at for a free consultation.






State Senator Addabbo Holding Mobile Office Hours At Middle Village Library Aug. 11

Senator Joseph Addabbo visits each library in his district multiple times per year to personally assist as many people in his district as possible. The Senator will be at the Middle Village Library, located at 72-31 Metropolitan Avenue, from 5:30 to 7 p.m. on Thursday, August 11 to meet with residents wishing to talk with him about a problem they may be having or to bring a community issue to light.

Middle Village residents busted as part of major Long Island heroin bust

(Photo via Patch)

Some of the drugs seized, wrapped in lotto tickets. (Photo via Patch)

Authorities announced that two Middle Village residents were among the 24 facing charges after a multi-agency take-down of a fentanyl and heroin distribution network that resulted in 10 fatal drug overdoses.

According to Suffolk Country District Attorney Thomas Spota, the drug network brought more than 3,000 bags of the substance into Long Island communities from New York drug mills on a weekly basis.

Because of the dangerous mixture, Spota said the drugs resulted in 10 fatal overdoses in Long Island and nine more where the victim was revived with Narcan.

“They cut the heroin with fentanyl more most drug dealers, sometimes  up to 50 percent,” he said. “But they also sold pure fentanyl in individual glassine bags to drug users for whom heroin no longer provided the euphoric high.

As part of the arrests, 31-year-old Melquisedec Puello, of 69th Avenue in Middle Village, was arrested and charged for operating as a major trafficker and a second-degree conspiracy charge. Bonita Genao, also of 69th Avenue in Middle Village, was arrested and charged with second-degree conspiracy.

UPDATE to Juniper Park Concert Series

Due to a change in line-up, the dates for the 50’s Doo Wop night and the 80’s Tribute Night have been switched.


Tuesday, July 19th – is now an 80’s Tribute Night with White Wedding Band.

Tuesday, July 26th – is now a 50’s Doo Wop Night with the New York Exceptions.


Concerts still start at 7pm.  Don’t forget your chair or blanket. Come – sit awhile – and dance the night away to these two great bands!

Resident Brings Attention to Juniper Park Safety Nets

FullSizeRenderMiddle Village resident Robert Cermeli expressed concern at the Community Board 5 meeting about the baseball field’s broken protective netting that borders the outfield.

Noting that at least one part of the netting is torn, Cermeli said the hole is so big an elephant would be able to fit through it.

With the netting serving as a protective barrier for both a walkway and a kiddie park close by, the broken net creates a possible dangerous situation for those in either location if a ball flies through that hole.

Due to lack of a swift fix by the park, Cermeli urged the board for help before an incident occurs.

Cyclist survives, but loses leg after being struck by car at Juniper Park


Credit: Mayan Manampan, Facebook

An unidentified 64 year old man was riding his bike on Lutheran Ave. and Juniper Blvd. North at 8:30am, when he was accidentally struck by a 71-year-old motorist.

The unidentified motorist was reversing into a parking spot when she struck the cyclist. The man was then briefly pinned under the car.

According to the Daily News, “The man was rushed to elmhurst hospital, where he was put into a medically induced coma as doctors tended to his lower body injuries.”


Keeping our fingers crossed for both parties.