[KRM0614]

Originally Posted by Stu from NYC

Received our first notice a few days ago called the Taxing Authority who was able to answer most questions but still have one.

We are being billed $ 474.82. Lady I spoke to said this was from Villages but had no idea what this is for.

Can someone please explain. Thanks.

Was considering paying off the bond that has 15 years to go but thinking we should spend another year or two here to make sure this is our permanent home in the Villages before doing so.

Yes be careful and make your choice slowly! Looks like the interest rate is 8% that’s why the sales staff is coached to tell you not to pay off the bond it’s another revenue stream. But please realize after you pay it off they still bill you a line item called HOA ! You can never get rid of it and I think you really never own your home outright it’s SS if there’s a stranglehold on you. Good luck !

[Stu from NYC]

Originally Posted by KRM0614

Yes be careful and make your choice slowly! Looks like the interest rate is 8% that’s why the sales staff is coached to tell you not to pay off the bond it’s another revenue stream. But please realize after you pay it off they still bill you a line item called HOA ! You can never get rid of it and I think you really never own your home outright it’s SS if there’s a stranglehold on you. Good luck !

Interest rate on our bond is 4.25%. The lady I spoke gave me info and did not attempt to sway me on way or the other.

No idea what HOA is.

[dewilson58]

Originally Posted by Stu from NYC

Interest rate on our bond is 4.25%. The lady I spoke gave me info and did not attempt to sway me on way or the other.

No idea what HOA is.

Plus the monthly admin fee..............it pushes the effective rate up.

[bowlingal]

of all the common areas, flowers especially, mowing

[rogerk]

Originally Posted by Stu from NYC

Received our first notice a few days ago called the Taxing Authority who was able to answer most questions but still have one.

We are being billed $ 474.82. Lady I spoke to said this was from Villages but had no idea what this is for.

Can someone please explain. Thanks.

Was considering paying off the bond that has 15 years to go but thinking we should spend another year or two here to make sure this is our permanent home in the Villages before doing so.

Why not talk to the District Office 352-753-4508 and ask them What the charge is and at the same time ask them the pros and cons of paying off your bond.