Bond Payment

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  #61  
Old 06-28-2012, 08:39 AM
Bogie Shooter Bogie Shooter is offline
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Originally Posted by Ohiogirl View Post
Thanks for that link, Elevatorman. I learned something new. We are in district 6 - I had thought all CYVs in same district had the exact same bond, but not so. Appears all the CYVs in one specific villa neighborhood are the same, as I thought, but looks like the bond in each CYV neighborhood is determined by the actual land mass for that neighborhood - each of the bonds in the 3 CYV neighborhoods in my Village (Sabal Chase) vary by a few hundred dollars.

Imagine this holds true for the various designer neighborhoods as well.
Total bond amount determined on actual cost of infrastructure.
  #62  
Old 06-28-2012, 12:05 PM
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So if you live in CCD 9 Unit 226 ( from previous link that was posted) you have a bond of $45,000. The first 10 years, you will pay over $2,000 per year in interest alone and less than $1,000 per year in principle. Total per year of over $3,000. So, you will pay over $97,000 over 30 years. $45,000 now ........or $97,000 spread over 30 years. This is the extreme, but all of the charts are about the same. You are paying about 2.5 times the bond amount if you don't pay it off. If you can afford to pay it off, it definitely makes sense to do so.
  #63  
Old 06-28-2012, 12:10 PM
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Originally Posted by cathyw View Post
So if you live in CCD 9 Unit 226 ( from previous link that was posted) you have a bond of $45,000. The first 10 years, you will pay over $2,000 per year in interest alone and less than $1,000 per year in principle. Total per year of over $3,000. So, you will pay over $97,000 over 30 years. $45,000 now ........or $97,000 spread over 30 years. This is the extreme, but all of the charts are about the same. You are paying about 2.5 times the bond amount if you don't pay it off. If you can afford to pay it off, it definitely makes sense to do so.
Um...none of us talk about it...but thirty years you know...we might have moved to The Village of Heavenly.


It is a personal thing. We were told by members of this forum five years ago that it was a real possibility that we might want to move from our first home here and we did. The neighbors behind us are on their third house. The asking price of the home seems lower to potential buyers if you do not pay the bond and have to factor it in the asking price.

Your math is correct. We have no mortgage, our choice was to not pay the bond and inevitably it is everyone's choice.
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  #64  
Old 06-28-2012, 01:57 PM
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Thank you for the valuable information in this thread, I think you just saved my marriage, well, in that the bond was dh's only objection.
The Amortization Schedules are a wonderful tool that our sales person either did not know about, or declined to tell us, as this was the constant question in every home we viewed by my dh.
Hope to make TV home sooner than later.
Thanks again.
  #65  
Old 06-28-2012, 02:27 PM
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Originally Posted by cathyw View Post
So if you live in CCD 9 Unit 226 ( from previous link that was posted) you have a bond of $45,000. The first 10 years, you will pay over $2,000 per year in interest alone and less than $1,000 per year in principle. Total per year of over $3,000. So, you will pay over $97,000 over 30 years. $45,000 now ........or $97,000 spread over 30 years. This is the extreme, but all of the charts are about the same. You are paying about 2.5 times the bond amount if you don't pay it off. If you can afford to pay it off, it definitely makes sense to do so.
Very much like the impact and the math of a mortgage.

Bill
  #66  
Old 06-28-2012, 02:51 PM
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Very much like the impact and the math of a mortgage.

Bill
That's right 20K $113 month, it's a bit higher >1.5% or $18 a month more than std mortgage rate, really not a big issue IMO.
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  #67  
Old 06-28-2012, 03:09 PM
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Yes, Bill, it's just like a mortgage. Luckily, I don't have a mortgage, either. Again, better to pay off any debt that you are paying interest on. Credit cards....same deal....no sense paying only the minimum due, which is mostly interest. I believe you should pay off as much debt as you can. I realize that not everyone can do this, but if you can, you save money in the end.Lots of money.
  #68  
Old 06-28-2012, 03:45 PM
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IMHO, If you are going to stay in your house for about 10 years then pay off the bond. If you do not know, many people move because they want a smaller or bigger home or better view, then wait 2-3 years before you pay it off. I plan on staying in this house until I die, which I hope is at least 25 years away.
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