Quote:
Originally Posted by Pessemist
The question you are asking is better rephrased as,
“What’s the total balance left on the Bond on a particular home?”
At the start bonds can be hefty. $20-$40k
Over time that’s paid off just like your mortgage at whatever interest rate was assigned at the time.
No bond means it has been paid off and a zero balance remains.
It’s important to know the balance (if any) on the bond remaining in a home you are interested in. Otherwise you could be in for an unpleasant surprise at the total monthly mortgage/bond you have to fork out.
Each home is unique in amount of their bond balance. Some owners accelerate bond payments or even pay it off early to make the home more attractive when selling it.
So ask
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More like 20-80k now. Mine in lake Denham was ~48K