By any shape or form, this is a ridiculous bond. The original structure is bad. Additionally, I don’t know why it was not refinanced in this historially low interest rate period. In my job I deal with investments, etc and my boss would have fired me if I agreed on this bond. For sure.

I generally agree that we share the responsibility of not being engaged enough to oppose when these proposals come up.

As an individual, if I had
(a) $60k in the bank earning close to 0% interest
(b) my income in AMT bucket (meaning no tax deduction benefits from MR)
then I would pay back the MR bond now. It is a better option rather than paying a 6%+ bond rate for at least 30 years if not more

I know many in the forum have different view (eg don’t pay back MR if you are not planning to stay in thouse for at least 10 years). The main fear is the next buyer will not pay higher price for one house in neghborhood where all the house has MR. Somehow, I thibk there will be knowledgable buyer who will pay me $60k instead of signing up for $500 payment per month for 30- 40 years.