[Peggy D]

Originally Posted by Soon2B

I'm glad you have enough money that you don't complain when you are charged 10% more than you were told the item would be.

Kinda like Florida sales tax for me. We are from Delaware--no sales tax.

When something costs $2.99, you pay $2.99!!

The bond issue has always been hard to understand for alot of Villagers. Hope you can come to terms with it and have fun here.

[aljetmet]

Originally Posted by pooh

31 months till you retire or you move here? Time will pass quickly...at least I hope it does for you. Being able to plan your time as you wish is really all it's cracked up to be...

When homes here are sold and there is no bond remaining, it is stated in the description, at least I've seen it written. Having the bond paid off doesn't mean I can sell my house for more, it just means that the new buyers won't have an additional payment each year.

I don't know for certain that the bond is 7%. Maybe, maybe not. It wasn't that high in past years.
I'm not sure if you've read about people doing a bit of moving in this community. Seems many do. Some move to new homes, homes that now have a bond and that has to be paid off? When someone buys a home here, it isn't necessarily the home they'll stay in. Circumstances and conditions can change and a larger or smaller dwelling is needed. If I move a few times, why am I paying off bonds for others. People have differing views on this and must do what they feel is correct for them.

I can't speak knowledgeably enough about the ins and outs of the tax free bonds and the developer so I won't. I will watch with interest what transpires between the IRS and this community's developer.

My point was, why take $10,000 to $50,000 out of savings or an IRA, lose interest or have to pay taxes, for a home when you might just buy another...and then have to do the same thing all over again. This is just my personal feeling about the matter. Some feel very differently about their bond....they'd rather not have that "debt" out there and are more comfortable paying it off. I feel much better just making a payment once a year and having the funds available for use if needed or wanted. As they say, "Your mileage may vary."....

I hope it's 31 months for both. My wife isn't working so we hope to buy and settle in befoe. Timing on selling our house etc. I really don't expect to buy more than once. Paying off the bond is a financial thing and you have to be comfortable with your own decisions. There are pros and cons for both. You know which way I'm leaning though...

[skip0358]

I got a closing statement estimate prior to my closing showing my bond payment amount due at closing. I was also informed I could pay the balance the following year in July.I'm sorry you feel the way you do. Probably someone didn't explain it to you or you were so happy with your decission to move into TV you over looked it. As another poster said wait a year and pay it next year. By then you'll know alot more about TV.It's water under the bridge at this point. Don't let it spoil the ride of a life time. Consider it a small bump in the road. Welcome to TV.

[Kelsie52]

You might want to take a middle road and if you can take enough out in the mortgage to pay the bond and make the yearly payments at a lower rate then the 7% ,and it will also be deductable. It does not solve the initial back interest owed question but it makes more sense to me if you are staying.

I will try to do that ---by taking some mortgage cash and holding off for a year to see if we are staying put --Then using it to pay off the bond or buy a couple of golf carts with deductable dollars .

You can get many opinions, remember everyone has one ---what ever works for you--but I think the move to TV is the main thing ..
The Bond issue really bothered me when I first learned of it but the more I thought about it the less it mattered in the overall picture of where we want to live ... I think of it now as a part of the price of the home

Good luck

[Number 6]

I am of the pay it off school of thought. While you might not get dollar for dollar back should you move, you will get much of it back. Having no Bond makes the house more marketable; able to command a higher selling price. At 6 or 7%, non tax deductible, it is pretty expensive money. Prime is currently 3.25%!

[Russ_Boston]

I'd really like to know, someday, who The Shadow is. I really want to know the story behind the story. Why is he/she so fixated on the IRS bond issue that even the IRS isn't really pushing? Hmmmm,

[pooh]

Originally Posted by aljetmet

I hope it's 31 months for both. My wife isn't working so we hope to buy and settle in befoe. Timing on selling our house etc. I really don't expect to buy more than once. Paying off the bond is a financial thing and you have to be comfortable with your own decisions. There are pros and cons for both. You know which way I'm leaning though...

I hope you have the opportunity to get here sooner, also. You'll really love the place.

Here's hoping all works out well for you and your wife.

[pooh]

Originally Posted by Russ_Boston

I'd really like to know, someday, who The Shadow is. I really want to know the story behind the story. Why is he/she so fixated on the IRS bond issue that even the IRS isn't really pushing? Hmmmm,

Makes one wonder, doesn't it Russ. Maybe one day we'll know just what "The Shadow Knows.".....

[Bogie Shooter]

Originally Posted by pooh

Makes one wonder, doesn't it Russ. Maybe one day we'll know just what "The Shadow Knows.".....

Probably viewing TV from afar. Envy takes on different forms.

[The Shadow]

Originally Posted by Russ_Boston

I'd really like to know, someday, who The Shadow is. I really want to know the story behind the story. Why is he/she so fixated on the IRS bond issue that even the IRS isn't really pushing? Hmmmm,

Long story short, a couple things I am really afraid of, fire and the IRS. I quit playing with matches when I was a kid after I darn near burned the house down. I have scary memories of people being destroyed by the IRS. I have made it a practice to do my own income tax after my first year of filing was screwed up by a paid tax person three times and it was me that found the mistakes. I learned the IRS rules as they pertained to me and followed them to the letter and used them to my advantage.

Why am I fixated on it? I did not cause the problem and I can not fix the problem and in my estimation the IRS could bring dire consequence to the home owners. I think the IRS will demand money, the CDD will not have money so the IRS will take the assets. What assets? Think about it.

“the IRS isn't really pushing” my words would be the IRS does not telegraphy its moves and they have just been silent for 6 months.

I am not trying to sell anyone on what I think but I think that everyone that has a finical interest in the outcome should be aware of the problem and the information available to make an informed decision.

“who The Shadow is” We will go into that another day.

That’s my story Mr. Russ

[Pturner]

Dear Soon2be,

My heart goes out to you. Your username speaks to your excitement about moving to TV. Buyer's remorse is stressful, as is a sense that your bubble has been burst. (I mean this in more ways than one as many of us TV'ers think of TV as a bubble.)

I hope that you would not have changed your mind about living in TV had you known that homeowners have only a once-a-year option, in July, to payoff the bond. It would make me sad if you just feel stuck and don't still want to be here.

When we asked about paying off the bond, both our Villages and MLS agents told us that the bond could be paid off only in July each year.
We asked if we could pay down the bond. Both agents told us that the only two choices are to pay the amount that is due each year, or to pay the bond in full in July. Homeowners receive a reminder each year in advance of the July payoff period.

Sometimes it is difficult to know the right questions to ask. (I could understand if you just assumed you could pay off the bond at closing.) However, if you were told you could pay off the bond without penalty at closing, then you were indeed wronged.

I think what you have decided to do-- wait until next July to pay off the bond-- is the most sensible course under the circumstances. I don't know what else you could do at this point, other than perhaps report your agent, if he/she gave you misinformation, to either Villages mgm. or to the agent's Broker's office and the Florida Board of Realtors.

I hope you can put this behind you and enjoy the people, amenities and beauty that make TV a wonderful place to live.

I'm sending a virtual hug.

[kentucky blue]

I absolutely love the residents of TV, you live in this bubble, free from the outside world. Ben Bernanke says the economy is "unusally uncertain" and is weakening. But inside TV everything is just swell, i hope you are right and everybody else is just wrong.We should all have your postive outlook, living in the world of Disney and Mary Poppins. All i can say is...................... supercalifragilisticeexpialidocious, and hope reality never reaches TV.

[Pats2010]

Originally Posted by kentucky blue

I absolutely love the residents of TV, you live in this bubble, free from the outside world. Ben Bernanke says the economy is "unusally uncertain" and is weakening. But inside TV everything is just swell, i hope you are right and everybody else is just wrong.We should all have your postive outlook, living in the world of Disney and Mary Poppins. All i can say is...................... supercalifragilisticeexpialidocious, and hope reality never reaches TV.

And you wonder why the intellectually perceptive individuals who are seriously researching TV as their future home have to take a step back and say ...........are you f*&^ing kidding me !!!!!

Your consistent...are you sure you want to move to the Villages? Just curious.

[kentucky blue]

I would love to live in TV, but unlike many, who buy on there first visit, i want to know EVERYTHING about the entire community before i invest.I KNOW the people of TV are terrific,but a community without representation is eventually in serious trouble, just look at history.The residents of TV need not to get sooooooooo defensive EVERYTIME somebody questions their "kool aid, disney, stepford" existence. TV needs residents who will question the policy of the leadership, and i see very little of that presently.THE SHADOW KNOWS

[jebartle]

One more option....Buy in Lake County...NO bond