Quote:
Originally Posted by jrref
I know there has been endless discussion concerning whether to pay off the Bond or not. But for example, if you have a $20,000 bond on a $700K house and you pay it off, when you go to sell it at some point i would think you could probably re-coupe the $20K because there is no bond to pay. At this price point you can easily add $20K to the price of the house assuming it will be one of the many selling points of the house. This assumes the $20K you are spending to pay off the bond isn't making much interest in the bank or whatever you may have it invested in these days.
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The bond is not 20K when you figure in interest. They don’t want you to pay it off so the can collect interest.
If I was buying resale no bond would be big benefit for me cause I don’t like giving my money away. Most Going to make offer on house, IMO if it’s got bond you lower you’re offer if it has no bond then may be worth higher offer.