BOND and when to pay?

BOND and when to pay?

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BOND and when to pay?
  #1  
Old 02-03-2014, 11:07 AM
thomas47 thomas47 is offline
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Default BOND and when to pay?

I am going to pay off half my bond and am wondering if there is a best time of year to do so?

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Old 02-03-2014, 11:38 AM
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I called a few weeks ago and was told to do it before March 16. I'd suggest calling to confirm this, though, in case I got it wrong. After looking at the amortization schedule, I think we're right behind you. Our interest rate is 6.125%.
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Old 02-03-2014, 11:40 AM
rayschic rayschic is offline
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Quote:
Originally Posted by thomas47 View Post
I am going to pay off half my bond and am wondering if there is a best time of year to do so?
Here's a link to info on bond payoff. It looks like you can only pay it off in full, not half.

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Old 02-03-2014, 12:20 PM
tommy steam tommy steam is offline
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Originally Posted by rayschic View Post
Here's a link to info on bond payoff. It looks like you can only pay it off in full, not half.

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Great information.
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Old 02-03-2014, 12:25 PM
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Quote:
Originally Posted by thomas47 View Post
I am going to pay off half my bond and am wondering if there is a best time of year to do so?
We had the same idea, pay off half the bond. We were told it must be discharged in full. So we're planning to pay our entire bond by March 16.

Sorry, it looks as if this info has already been stated.
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Last edited by Barefoot; 02-03-2014 at 12:26 PM. Reason: Sorry, duplicate info, should have read the whole thread before posting
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Old 02-03-2014, 01:12 PM
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Quote:
Originally Posted by naneiben View Post
I called a few weeks ago and was told to do it before March 16. I'd suggest calling to confirm this, though, in case I got it wrong. After looking at the amortization schedule, I think we're right behind you. Our interest rate is 6.125%.
Don't for get about that Admin Fee.........that's also a cost of money.
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Old 02-03-2014, 01:23 PM
REDCART REDCART is offline
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Originally Posted by dewilson58 View Post
Don't for get about that Admin Fee.........that's also a cost of money.
The admin fee that you're referring to is on the tax bill, or is it something that get's added to the bond "payoff amount"?
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Old 02-03-2014, 01:42 PM
mulligan mulligan is offline
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If you're talking about the annual maintenance fee, that has nothing to do with the bond.
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Old 02-03-2014, 01:49 PM
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Originally Posted by gryoung View Post
The admin fee that you're referring to is on the tax bill, or is it something that get's added to the bond "payoff amount"?
It's the annual administration fee and its on the amortization schedule.........it's just another way to charge you a higher APR.
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Old 02-03-2014, 02:50 PM
OBXNana OBXNana is offline
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We were told mid March, but because we close on the property 2/12/14, we will pay at closing. When we figured the numbers over a 30 year period, the bond cost would triple. We felt that wasn't a good return on our money. It's a personal choice on our part.
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