Talk of The Villages Florida - View Single Post - Unearned Bond interest - legalized thievery!!
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Old 07-19-2010, 03:48 PM
golf2140 golf2140 is offline
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Quote:
Originally Posted by Soon2B View Post
Because we are closing on a house in The Villages next month, I called VCDD to find how to pay off the bond at closing. I was told that even if I paid off the bond I will be charged for over a year's worth of interest - which for a $20,000 bond at 7.5% will be at least $1500!!

When I asked why I would be charged a year's worth of interest, I was told the people who bought the bonds were promised they would make money. So, it would be "unfair" to them if I didn't pay the extra $1500 or more. The Alice in Wonderland story is that the cutoff date is July, so if you buy your house in August you have missed the cutoff date??!!

I knew up front that the infrastructure costs (normally paid for by a developer and included in the price of a house) were palmed off to the buyer here in The Villages. What was NEVER hinted at was that we would be charged a year's worth of interest regardless of what we did.

Leagalized rape is still immoral. Why do we allow this kind of outrageous usury? Florida's legislators are concerned about you in proportion to how much you can donate to their pockets.

SB1196, the 'condo' bill, just passed allowing Speculators to buy 7 or more condos without incurring any liability of a builder nor without having to buy any insurance on the condos. So, if a fire, hurricane, or other problem occurs and your 'neighbor' happens to be a speculator, good luck in your condo.

In looking over TOTV, I see concerns about thieves breaking into your house -- what alarm system, what gun to have etc. According to statistics I've seen for Sumter County, 2 out of 100 houses might be stolen from by theives. When those thieves are caught they will go to jail or prison.

In new sections of The Villages, 100 out of 100 homes will be legally stolen from. Yet the thieves will be lauded and fawned over by our elected officials. It appears our 'fears' are misdirected.
Maybe someone should rethink their position. Not here yet and complaining!!!
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Villager from 2000 until they take me out in a small box!!!