Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#1
|
||
|
||
![]()
Have you really sat down and figured out what that bond is actually costing you, If you don't pay it right away.It won't put a smile on your face that's for sure. at 6.96 % interest
That $21,000 will cost you ![]() ![]() |
|
#2
|
||
|
||
![]()
The answer may be they do not expect to outlive the life of the bond.
|
#3
|
||
|
||
![]()
Anything with interest I payoff ASAP better off in my pocket not theirs
__________________
Don't take life Too Serious ..It isn't permanent |
#4
|
||
|
||
![]()
Since I don't live in The Villages yet and am still learning all the ins and outs about how everything works, couldn't you just refinance the loan at a better rate or are you locked into that rate? I know if I had a rate like that with today's available cheap money I would be finding a way to pay it off.
__________________
Birthdays Are Good For You. Statistics Show the More That You Have The Longer You Will Live.. We've Got Plenty Of Youth.. What We Need Is a Fountain Of SMART! |
#5
|
||
|
||
![]()
Check your property taxes. The bond is paid as an ad valorum with your taxes. It is not part of your financed mortgage payment. There is no interest on it.
Sent from my SM-G960U using Tapatalk |
#6
|
||
|
||
![]() Quote:
![]() There is interest on the bond! Let's take a look - > https://www.districtgov.org/departme...Unit%20192.pdf |
#7
|
||
|
||
![]() Quote:
|
#8
|
||
|
||
![]()
The bond is not going to be refinanced as it was taken out by the Morse family's corporation(s)/CDD's to finance the building of the infrastructure. There is no incentive for refinancing as the bond holders are making money and there is no municipality that would benefit from the refinance as it is the homeowners paying it, not the CDD.
__________________
Men plug the dikes of their most needed beliefs with whatever mud they can find. - Clifford Geertz |
#9
|
||
|
||
![]()
I make more on my investments than I pay in interest and the admin fee. Therefore I let the investments continue to earn more and I pay the bond costs. FYI, I bought a pre-owned house, so about 5 years of the bond had already been paid.
|
#10
|
||
|
||
![]() Quote:
It was a small amount because we bought a preowned home.
__________________
Barefoot At Last No act of kindness, no matter how small, is ever wasted. Saving one dog will not change the world, but surely for that one dog, the world will change forever. Last edited by Barefoot; 11-17-2019 at 11:51 AM. |
#11
|
||
|
||
![]()
Paid ours off after about 4 years, since we could NOT deduct the interest.
__________________
Pennsylvania, for 60+ years, most recently, Allentown, now TV. ![]() |
#12
|
||
|
||
![]()
On our CYV the bond is $14,000 and we pay $1100 a year and so far in 8 years the bond has gone down about $200 a year. So we don't go in the hole until after 13 years. I would be glad to have the problem of living 30 years to the end of my bond, that would make me 91. I guess it's good to have wishful thinking.
|
#13
|
||
|
||
![]() Quote:
Actually there is. Ours is 4.94% w/20yrs left. |
#14
|
||
|
||
![]()
Think of the bond as a second mortgage that is automatically assumed by a new buyer.
If you pay it off in the first few years of ownership and you decide to sell/move, you would need to add what would be the remaining balance to your selling price to be even. That would mean you would have to sell for x dollars more than someone selling that did not pay off the bond, a tougher sell. Since most Villagers move a few times, this is a real consideration. Also, I think if you are earning near or more than the bond interest on your investments, it makes little since to give up that liquidity to feel debt free. Also, since it is tax time, remember that if you pay early you get to take the early pay discount on the bond too. |
#15
|
||
|
||
![]()
!!!
|
Closed Thread |
|
|
|
Thread Tools | |