In mid-2006 just before Florida home prices and those nationwide began diving, 88 percent of people refinancing their mortgages took cash-out of the equity in their homes, thereby adding to their debt load. Between 2005 and 2009, Americans lost an unprecedented 7 trillion dollars in the equity in their homes. Both factors have led to the increase in borrowers who now owe more than the value of their homes resulting in an ongoing rise in foreclosures and bankruptcies.
Most recent 2009 data from Freddie Mac shows that only 27 percent of re-financiers took cash-out and 33 percent put cash-in to lower the balance of their mortgages. Advantages of lowering the amount of a mortgage may qualify you for a lower interest rate and avoid the necessity for PMI (private mortgage insurance).
If you are thinking of tapping the equity in your current home to make a down payment on your eventual Florida retirement home, be aware of the hazards that still exist. If you already have your Florida home, think twice before you take cash out of it to take that dream vacation, or buy that new, luxury car.
If you are looking to retire in Florida at a great community, be sure to move Terra Vista of Citrus Hills to the top of your list of places to visit. Here are 5 compelling reasons to make this popular Florida retirement community your new home.
1.A Beautifully Balanced Suburban Environment
Here at Terra Vista, you’ll discover the charm of contemporary suburban living combined with easy access to Florida’s most dynamic cosmopolitan hubs. A world of plentiful “at home” conveniences crowned by the many amenities of nearby Tampa, Orlando, and Ocala await the new retiree.That’s the balanced foundation of a stress-free Florida retirement lifestyle you’ll find at Terra Vista.
2.Florida Retirement Like Nothing You’ve Ever Seen
Rolling hills, unspoiled natural landscape, and picturesque surroundings have long been central to Florida’s allure. Terra Vista abounds with nature’s untarnished beauty and lush landscapes and sits atop one of Florida’s highest elevations… a stunning environment protected from over development and congestion.
3.Refined Community Planning
Terra Vista’s commitment of delivering a first-class country club lifestyle is evident from the moment you arrive.A well planned setting of distinctive residences set within impeccably manicured surroundings signifying the success you’ve achieved and caliber of lifestyle you intend to enjoy.
4.Equipped With Something for Everyone
From nature’s solitude to an active social scene, whatever your pastime passions or social schedule, our world-class facilities at the Skyview and Citrus Hills Golf & Country Clubs will satisfy any impulse.Exclusive for our members are amenities with a breadth and depth few communities ever dream of offering! Whether it’s a vigorous game of racquetball at the Fitness & Spa Complex… a relaxing afternoon poolside, or a round of golf as part of your favorite foursome, the lifestyles and experience here is all about fun, friendship, and fulfillment.
5.Affordable Distinctive & Varied Customizable Homes
You can commend yourself on finding a first-class country club experience for less than you may have ever thought possible!A comparison of housing quality, community design, and club amenities will unquestionably establish this among the greatest luxury housing opportunities in Florida.
Enriching our lifestyle experience is a remarkable collection of traditional single family homes & detached villas.As you would expect, each model offers a heightened level of architectural design compatible with community planning and the tastes of today’s discerning luxury homeowner. Every design offers the opportunity to be customized, to better accommodate your individual preferences.
For more information on Florida retirement and Terra Vista of Citrus Hills, please visit our website, at http://www.citrushills.com/request.asp or call 800-511-0814
Here at Terra Vista, you’ll discover the charm of contemporary suburban living combined with easy access to 
