Talk of The Villages Florida

Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)

- The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)

- - Bond questions (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/bond-questions-332983/)

Quote:

Originally Posted by bsloan1960 (Post 2107389)

New owner/first time- closing at the end of June.

(using approx. numbers) $20,000 bond paid over 30 years @$1100 per month = $33,000... Ouch!

I assume this is why some people choose to pay the bond off in cash. I called the Development District and there is no creative way to reduce the interest payments- it's either pay it off in full or pay it monthly.

With this in mind what is the best way to pay this bond?

Thanks,
Bill

Don't worry about if the bond adds value to the home
Forget about "piece of mind" with paying off a $20,000 bond
These are so far down the list of deciding factors.

What you need to do is ask yourself, what will I do with the money if I don't pay off the bond.

If you will keep it under you mattress, then pay off the bond.
If you will renew your CD, then pay off the bond.
If you will keep your baseball cards and coin collection, then pay off you bond.

You have to honestly ask yourself, can I invest the money and guarantee myself a better ROI (return on investment) than 3.7% per year over 30 years. I know PLENTY of investment vehicles that can easily attain that goal.

Quote:

Originally Posted by EdFNJ (Post 2109874)

I thought you were saying all district 6 is the same and BECAUSE yours was whatever. My understanding was the rates were all supposed to be the same within a district. Evidently not unless they are mostly all listed wrong one way or the other. NOW I will call to find my SPECIFIC rate not that it really matters for me at this point, just curious.

There are different bond series in different districts, for example CDD 10 has a 2012 and a 2014 series bond (phase 1 & 2), the bonds have different rates but everyone within each series has the same rate but may have a different principal amount depending on their unit #.
CDD10 2012 bond was just reissued with a significantly lower rate (3.05% vs. its previous of nearly 6%) saving residents with phase 1 bonds significantly.

Most of the bonds issued for development in The Villages have a 10-year call and are reissued if the market conditions are good and a better rate can be achieved. Don't expect any to be reissued in the next year or two thanks to the current economy.

You can find your rate here Amortization Schedules - Sumter