Quote:
Originally Posted by biker1
As I stated previously, some CDDs have refinanced their bond (to a lower interest rate, they wouldn't refinance to a higher rate). I am assuming they passed the savings onto the residents and modified the amortization schedule. I could be wrong. My CDD (10) has not refinanced. I believe it was some of the more northern CDDs that refinanced. The rate on my bond wasn't that high, 5.25% IIRC. I did pay it off upon settling on the house. In retrospect, it may have been better to put the money in equities. I wrote a check for $20K and don't have a $1600 line item on my tax bill. It is what it is.
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The maintenance portion of the bond never goes away. The interest you pay is fixed at the rate when the bond was issued.