Talk of The Villages Florida - View Single Post - Interest portion of bond payment tax deductible?
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Old 10-14-2012, 08:43 AM
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Quote:
Originally Posted by laceylady View Post
More from the 'newbie'. Why in the world would I get a home equity loan and deduct a few bucks over the next 5-7 years before I sell my house and effectively 'eat' the $20,000 bond cost? I want to transfer the bond to the buyer and this isn't going to happen with a home equity loan. To each his own.
You are buying your home in The Villages with the intent of selling it and moving in the next 5 - 7 years? I bought my home here in The Villages to stay in and not to move again. But, as you say, each to their own.

Also, when I bought my re-sale home 3 years ago, it had only a $1,500 bond on it. Friends bought their new homes at the same time and have a $20,000 bond. I understand now that bonds on new homes are higher than $20,000 and go up to $50,000. Just another reason to look at re-sales.