Living in St. Petersburg, Florida!

The town of Saint Petersburg is a great town that is full of arts and culture. The town symbol is the Pelican, and  you can even join a volunteer group that feeds these birds during the winter months! A popular place in Saint Petersburg is the Salvador Dali museum. Salvador Dali was a fantastic surrealist artist whose paintings influenced so many lives in a positive way. You will definitely be fascinated by his talent. This museum houses more Salvador Dali works than any other museum in the entire world. The city is not too far from downtown Tampa, a mere 20 minute trip across the bridge. A beautiful city in a beautiful area of Tampa Bay. Come check out St. Petersburg, Florida!

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Scenic Homes for sale in Tampa, Florida.

Tampa is a great place to live. There are a variety of scenic homes in Tampa, Florida, for sale. Between the lush vegetation brought on by the humid and subtropical weather and the lovely beachfront dunes and seaports, Tampa has a scenic picture for everyone. The best part of buying a home in Tampa, Florida, is the opportunities the city presents.

The city of Tampa is very culturally significant. Between the Tampa Theatre and the Opera House, there are a variety of arts and entertainment available for families with children and adults,, alike. Furthermore, downtown Tampa is packed full of bars and clubs, such as in the neighborhood of SoHo. This is a prime location due to its growing business sector as well as its growing entertainment industry.

Tampa has a lot to offer in the way of education. There are a variety of prestigious elementary schools and high schools, both public and private, throughout the city.  And the city’s universities draw people from near and far. Between the University of Tampa and the University of Southern Florida, Tampa has great educational options to go along with the great career opportunities.

Check Tampa out! It’s a great place to work, live, and play!

Search for Scenic Homes in Tampa, Florida, here: http://www.nextagegatewayrealty.com/225413%2027-Tampa-FL-Scenic-Listings.aspx

As always, give us a call with any questions. Nextage Gateway Realty - 727-412-8562 or contact us at http://www.nextagegatewayrealty.com/ . gateway@nextagerealty.com .

Is a Reverse Mortgage for You?

Reverse mortgages are increasingly popular because they put extra money in your pocket. But they're only suitable for a small number of people so don't rush into one before you know if it will really help your financial situation.

A reverse mortgage is just what it sounds like: The lender pays you, rather than you paying the lender. Essentially, you're taking out a loan against your home equity that doesn't have to be repaid until you move out of the home or die.

Here's a tip sheet with five factors to weigh when considering a reverse mortgage:

1. How it works: Typically, the loan is repaid from your home equity when the home is sold, either after you move out or you die. When your home is sold, the loan is repaid and you or your heirs receive any leftover home equity. But while the loan is outstanding, you still own the home and don't make any monthly mortgage payments. You must also continue to maintain insurance and property taxes.
2. The mechanics of the loan: Reverse mortgages are "non-recourse loans," which means that what you owe can never exceed the selling price of your home. If it does, the government or the lender makes up the difference. These mortgages are also "rising-debt loans" -- the interest (which can be fixed or variable) is added to the principal each month. The interest owed increases significantly over time because of compounding and it cannot be deducted from your taxes until you pay off all or part of the loan.
3. Who qualifies?: You must be at least 62 and own your own home, although you may be eligible if you are still paying down a first or second mortgage. There are no income or medical requirements. Reverse mortgages are available for most properties except mobile homes and co-ops. The money can be used for anything. However, if your home needs repairs to qualify for the loan, part of the proceeds must be put aside for that purpose.
4. How much money you receive: The loan amount depends on your age, the type of reverse mortgage, the value of your home, current interest rates and where you live. In general, the older you are and the more valuable the home, the larger your loan. You can receive your proceeds monthly, in a lump sump or as a line of credit that you can tap into whenever you need the money.
5. Tax implications: Your payments are tax-free because the IRS considers them a disbursement of principal, not income.

If you, or someone you know, is house rich and cash poor, a reverse mortgage may be an option to boost cash flow. But the loans are complex and a home is a valuable asset, so check with a financial adviser who can help you minimize the risks.