Quote:
Originally Posted by Lolabird
This is incredible, everyone!
So much that I did not know.
I am realizing the the Bond is a major consideration. Is that paid separately, or as part of the financing package? Is there a time limit to pay it off?
Lora
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An important distinction is that the bond is not a personal debt. It does not count against your credit score or mortgage. The interest of not deductable.
The bond is against the property. When a property sells, the bond remainder becomes responsibility of the new property owner.
Paying off the bond early risks not recovering that money at time of sale.
Heres a link to GoldWingnut videos explaining the Bond, Amenity and Maintenance fees.
The Villages Information/Fees Videos - YouTube