Quote:
Originally Posted by hifred123
The developer collects the interest and the administration fees on the bonds. Our interest on our bond (we live in Charlotte - unit 196) is $1,174.13 and the administration fee is $97.59. The actual bond payment is $354.78. That is highway robbery. How was this interest rate determined? We just bought our home in August you can bet I am paying off the bond before July to avoid having to pay any more interest to The Villages.
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Bond principal and interest goes to bond holders ,not to the developer. The bonds were sold to investors. Get your facts straight before passing erroneous info.