Talk of The Villages Florida - View Single Post - Pay off Bond or Not?
Thread: Pay off Bond or Not?
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Old 03-05-2013, 04:09 PM
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Quote:
Originally Posted by jollyroger View Post
Hi,
As a new TV owner, I am confused on the plus and minus about paying the
"Bond" off on a new home. I plan to stay here until they carry me out in a box, and I see no sense in paying 5 to 10 times or more the original cost by amortizing the bond! I have also heard that used homes sell faster if the bond is paid? Lastly, I have been told that the interest on the bond is tax deductable (hint- hint- wink - wink). If that is not legal, I would be the one to be audited by the IRS. Please let me know what the real scoop is
If you plan to stay and can't find a guaranteed investment with a rate higher than the bond rate, you are better paying it off
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