Bond payoff
 

Is it possible to partial pay on the villages bond?

Yes, at quite a nice savings. They really give you a nice break in the total amount.

You can finance the bond over 30 years. Or pay it off at closing. Once a year you are given the option to pay in full. You can't pay half now and finance the remainder.

No.

Can't you call them at any time to get the bond payoff amount and pay it if full then or is it really a once a year offer?

Here's the full story.
http://www.districtgov.org/howDoI/PayBond.aspx

No and yes. Two answers in one sentence. You asked two questions.

Bogie's link addresses just about anything to do with bonds and the payoff scenarios available. And it's "from the source"...... :D

Bill :)

TO pay or not to pay
 

Some say pay it off! Some say don't pay it off!

In our case 23k at 7% interest for years.

My bank did not have it estimated for 30 seemed more like 10? Or I could be wrong.

We are debating paying off the car or the Damn Bond- Car is only 2.99 % interest for three years. Bond is 7% for eternity and beyond?

James Bond is cool - Village Bond is not cool at all!:oops:

Herv, the bond does go out for 30 years.

Everyone will have a perspective on the "to pay, or not to pay" bond philosophy. Some like the mathematical-type of thought process to lead them to their answer. Others.....it's what ever makes you sleep well at night. To each his/her own - there is no wrong answer. Choose the one that works best for you.

Bill :)

Eyes Wide Open
 

How did you know? Here I am staring at the ceiling.

At the end of the Day it's still a payment! :Screen_of_Death:


Thanks

"The payoff figure is good only through late July" because the annual assessment roll must be certified to the Tax Collector to remove the assessment from your tax bill."

This is copied straight from the website and says the payoff figure is good THRU late July. That says to me you can pay it off ANY time prior to July....

With interest rates for Savings and CD's in the toilet, how is it that the interest rate on the bond stays the same at 7%???

Herve...my advice is..

Don't pay it off because you may be moving. It keeps the price of your home sounding lower and everyone says this is just your first home in The Villages. I scoffed and laughed at that three years ago. but here we are in our second home here. Some people want more space and some people want less space but it is fairly cheap to move from one house to the other here in TV and many people do it. Just sayin'.

It is seven percent because it can be I guess.

We all have the same percentage of interest on the bond and many of us have just gotten used to it. (Or if you wish to rephrase that, swallowed it, accepted, looked over it, or some other such thing)

Our water bill for the first month on a lot larger lot than our last one and watering more for establishing lawn and greenery was $180. This is FAR less than water bill in Ohio. It may be far more than where others are coming from.

It is what it is.

When anyone moves from one geographic area to another there will be some things that are different, cost more, or less, require different clothes, sports equipment, means of traveling about etc. etc.

I think our water in Ohio cost more than in the areas of this country that are desert. Our taxes were VERY high compared to a friend who ended up living in Huntsville, Alabama....But our schools were wonderful. Our grandson said his first year of college was easy compared to the high school in our area. Some things will be better here and some things not so good, just like any area of the country, I guess.

It is what it is.

And as anyone who reads this forum knows, we just love it here.

Hope you will too.

Hugs.

Gracie.

I think you can actually pay off the bond at any time, but you must pay all the intrest and fees as if you were paying it off in May of the next year. So if you want to pay it off might as well wait until the May letter comes.