Quote:
Originally Posted by Mistymom
We are newcomers and have asked many people, including our real estate agent to explain the bond. You have finally made it clear to us why the bond was different in most of the houses that we looked at.
We currently live in a four year old house with a substantial bond and must consider whether to pay it off or not. Our agent advised us not to, but we feel that this is our forever home.
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We don’t think about our bond. I think it is about $120 a month and is collected by the bank as escrow. The bond, insurance and taxes are all part of the mortgage payment so we don’t even see it.