[billlaur]

could someone explain itand how it works, t.y.

[aln]

Try this for an explanation

http://activerain.com/blogsview/1484...ult-community-

[foxmeadow]

I saw it somewhere in previous posts..........a website to look up the bond payoff figures. Does anyone know or remember??

[downeaster]

Originally Posted by foxmeadow

I saw it somewhere in previous posts..........a website to look up the bond payoff figures. Does anyone know or remember??

Try here http://www.districtgov.org/search/Se...x?keyword=bond

[downeaster]

Originally Posted by downeaster

Try here http://www.districtgov.org/search/Se...x?keyword=bond

Once you get to the above website call the number here,

Finance Department
3201 Wedgewood Lane
The Villages, FL 32162

Phone: 352-753-0421
Fax: 352-751-3901

[foxmeadow]

Originally Posted by downeaster

Once you get to the above website call the number here,

Finance Department
3201 Wedgewood Lane
The Villages, FL 32162

Phone: 352-753-0421
Fax: 352-751-3901

Thank you much downeaster for your help.

[JohnN]

Bond is a clever way to add to the cost of the home for infrastructure and services, but billed separately from the price/mortgage, basically.

[GuyWin]

I just calculated the interest being charged on my CDD Debt Assessment (Bond) if we finance it over 30 years instead of paying it in full. This does not include the Maintenace Assessment that never goes away.

• Our CDD Debt (bond) in Pennecamp is $20,268.61.
• The annual amount each year for 30 years is $1,652.69.
• The annual rate to amortize $20,268.61 for 30 years @ $1,652.69 a year comes to 7.2%. Over the 30 years we will pay a total of $49,580.
• That's almost two and a half times the bond itself!
• Paying the bond in full would save us $29,312 in interest.

[Indy-Guy]

I would sign up for the 30 year pay out plan if I can get the guarantee that I will live 30 more years here in my home in The Villages.

[herbaru]

Originally Posted by GuyWin

I just calculated the interest being charged on my CDD Debt Assessment (Bond) if we finance it over 30 years instead of paying it in full. This does not include the Maintenace Assessment that never goes away.

• Our CDD Debt (bond) in Pennecamp is $20,268.61.
• The annual amount each year for 30 years is $1,652.69.
• The annual rate to amortize $20,268.61 for 30 years @ $1,652.69 a year comes to 7.2%. Over the 30 years we will pay a total of $49,580.
• That's almost two and a half times the bond itself!
• Paying the bond in full would save us $29,312 in interest.

I have read something like this before. Can someone please help me understand why most people suggest you do not pay off the bond? Please be gentle, I am math challenged.

[downeaster]

Originally Posted by herbaru

I have read something like this before. Can someone please help me understand why most people suggest you do not pay off the bond? Please be gentle, I am math challenged.

I am not certain most people suggest not paying off the bond. It has been discussed in great detail here in past threads. The consensus seems to be it is an individual matter. What is good for the goose is not always what is good for the gander. We paid ours off. We don't like debt. Not everyone is financially able to come up with the money. Others want to pay it off so it won't be a factor if they choose to sell their house. It is not always a question of the "math" factor although I felt the interest rate was more than I wanted to be saddled with.

[Army Guy]

herbaru, downeaster pretty much it. It is a personel choice, in that some say don't pay it off cause you may move within TV. Then have a new one to pay and that you can't get the price you pay for the bond most times added to your selling price of your old home.
We are also of the mind set and believers in "Dave Ramsy" in that debt is bad and you should live debt free if at all possible. So having saved up the money this past year since we bought, this summer we will pay our bond in full also.

Army Guy

[otherbruddaDarrell]

All the more reason we purchased a courtyard villa that we could afford without having a mortgage or a bond.
Too many people want to have bigger and better and then wonder where all the money went.

[Army Guy]

Agree totally OBD. Plus figured as we get older we may not be able to take care of something big.

Army Guy

[snowbird1898]

Some very good information as to knowing more about the Bond. Sure beats the "makes no difference" the Realtors tell you