Quote:
Originally Posted by Lisanp@aol.com
The maintenance assessment is fully disclosed in your Purchase Agreement Contract. It was the very last last page of my contract. It is in Section 10 of the "Payment, Utility and Settlement Information" section of the contract. There it outlines the Estimated CDD Maintenance Assessment and gives you the period this assessment covers (October 1 to September 30) ANNUALLY as well as your CDD Debt Assessment (Bond payment) for the current year and the following year and then your total CDD fees (Assessment plus Bond)for the current year and the following year. Yes, the bond is amortized over 30 years and the interest rate is also disclosed in your contract and this can be paid off just like a mortgage. The Maintenance Assessment is annually and forever.
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One small difference between the bond loan and a mortgage loan. You can make accelerated payments on a mortgage that are not accepted on the bond. The two options for the bond are to pay the annual amount or to pay it off entirely.
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Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.
Victor, NY - Randallstown, MD - Yakima, WA - Stevensville, MD - Village of Hillsborough
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