Quote:
Originally Posted by bsloan1960
New owner/first time- closing at the end of June.
(using approx. numbers) $20,000 bond paid over 30 years @$1100 per month = $33,000... Ouch!
I assume this is why some people choose to pay the bond off in cash. I called the Development District and there is no creative way to reduce the interest payments- it's either pay it off in full or pay it monthly.
With this in mind what is the best way to pay this bond?
Thanks,
Bill
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What we did was take out a home equity loan and paid off the bond. This way you can at least write off the interest and probably at a better rate than you're paying on the bond.