[Altavia]

Originally Posted by BrianL99

That's an interesting (no pun intended) point. I don't have any mortgages and I just pulled out an old 1099 from a mortgage I had a few years ago. I suspect you're right, if the band was collecting Escrow, the amount paid would show up as one lump some and I doubt the IRS would challenge that, even though it would in correct.

All this nonsense about bonds, baffle me. The Bond is nothing more than an additional cost when you buy a home in TV, new or pre-owned. It's not a "pay as you go" expense, unless you elect to do it that way ... in which case, you get an exorbitant interest rate and any associated fees. Along with the fact, that it's legally not tax deductible.

WTH? If I home is $500,000 + $30,000 Bond, the true selling price is $530,000. It's not complicated.

Granted, not all pre-owned homes are identical, but if one has a $20,000 outstanding Bond, you're paying $20,000 more than the sale price.

Geez, it's 4th grade math.

Really?

A buyer who sells the home three years later passing the bond on does not pay $20K.

There are bonds from just a few years ago near 4%, you can easily earn more than that in investments or even CD's now days.

What if interest rates go back to +10%, would it have been smart to pay off the bond?