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Old 12-22-2019, 10:21 PM
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eweissenbach eweissenbach is offline
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Quote:
Originally Posted by JoMar View Post
I looked at the bond as an opportunity....what the bond represents is included in the price of homes up north and you have no choice. Here you can pay it up front or finance. When it was included up north that choice was not available.
While what you say is basically true, there are other, offsetting factors. The bond is amortized as a non-ad valorem expense on your tax bill, which means it is not legally deductible. In addition, it is generally charged a higher interest than is available for mortgages today. And while true you can pay off the bond, you have the same option to add to your down payment on your loan for a house up north. I’m not saying the bond is an inherently bad thing, but I think it is a stretch to see it as an opportunity. JMHO
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