Quote:
Originally Posted by billlaur
Does the bond interest rate change at all during its term? Is it a fixed rate for lenght of loan?
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If, you have a mortgage, you can ask your bank. If, not the Villages offices can tell you who to call. It is not the same on all properties. Does it make sense to pay it off, like most things it is endless debate. Some will say you will not recover it, if you pay it off. My view, on a resale one has a paid off bond the other ??? nicer landscaping-both have value and the seller or salesperson needs to understand and explain it.
For all, it depends. Where would the money come from and what is that money producing for you now. It is not a reversible decision. You cannot pay off the bond and then decide you want to put the bond back on your property. The bond as an investment. Check it out. It has changed. You could at one time buy the bonds, the interest was tax free and the bond is secured by a home in the villages. I believe the bonds were called and it is no longer tax free to the bond holder.