Quote:
Originally Posted by Topspinmo
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.
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"They don't want you to pay it off." We paid off our bond roughly two years ago. I can only say that both our bank and the office that administrates the bond were very helpful. Did it make sense to pay off the bond, that is another question. Wife wanted to pay it off, her brother an accountant said pay it off. He also said pay off the mortgage. I paid the bond and not the mortgage. You can bet neither my wife or her brother said you were right-we were wrong. Right now you can easily make more on investments than the interest on the bond. The market does up and down. If, you are not making more than the interest on the bond, on your mortgage, and you have the money, it makes sense to pay them off.
Family counseling? I think we all live in a corny situation comedy.