Talk of The Villages Florida - View Single Post - Latest Development in the IRS Tax-Exempt-Bond Investigation
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Old 08-30-2011, 11:04 AM
Doodlegirl Doodlegirl is offline
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Default This has been an interesting and thought provoking thread...

I missed making dinner last night reading and re-reading the posts on this issue.
As a newbie of a month in a pre-owned cyv I simply wanted to comment on several issues.

I was aware of the IRS situation from reading this forum PRIOR to making my purchase and move some 7 weeks ago. However, during the closing portions and steps my Villages salesperson made no mention of it... and I chose not to ask feeling the developer signs the paychecks.

Likewise, I purchased this home using a Reverse Mortgage which is a loan intended for Seniors at this point. Thus, the Federal Government has a stake in my house if you know what I mean. It seems to me if the Feds are willing to loan in The Villages then the IRS issue could be moot because the IRS and the Federal Housing Commission are not (or are) communicating about potential financial issues for
purchaser seniors here.

O.K., so if we consider The Villages the largest Planned Urban Development of its kind in the U.S., and others are using it as a model, then it would behoove the
Government to either act on the information...or, dally. Dally is my feeling just now.

I think of my amenities fee as a gift back to the Developer. Did I wish 'Bond' had
not entered the picture? Absolutely. It sort of makes us niether fish nor fowl in Tallahassee and in Washington. I would, in my case, have preferred to have had the seller in a 'must' position to have paid the Bond on this house rather than my having had to assume it. Theoretically then, the Federal Government is in bed with me with this villa...as is every mortgage company who has homes and customers in the Villages, including the Villages owned mortgage company in mortgaging new homes here most particularly.

There is no question that building is going on at great lengths, the fabric of the landscape along 466A from Buena Vista to the Publix is changing by the hour just since I moved in. The question is whether the Developer will remain a Big Daddy,
will decide to sell (and to whom), and if those of us who moved here will remain
significantly happy with our quality of life choices and enough money to survive until we croak. Now that I am familiar with the issues enough to explain it to my 'next of kin', I imagine it wll be they who will deal with the end result. However, to not monitor the situation is turning a blind eye to wallet issues, so I agree with all who say stay the course, but be as familiar as possible with the players and the game.
Politics, afterall, is from the Latin meaning 'for-of- the many'. I'm one of those and so is everyone here. Thanks for listening to a newbie.