As John W stated:
As mentioned earlier, resales will have a lower bond or a paid in full bond. In fact the bond started at a much lower rate, my CYV bond was $14,000 when it started. I pay $1100 a year or there is a payoff of about $12,000 if I desired to do so.
Question I have is you said you paid $1,100 for 9 years, and your bond balance is still $12,000?
If so, you paid $9,900 and the bond balance only dropped $2,000.
Why continue yearly payments for another 21 years, and not pay it off?
|