Home › Forums › Housing › Serenity in Stonebridge, OVERPRICED???? › kcal09 wrote:Does anybody
[quote=kcal09]Does anybody know how long the MR has to be paid in “Stonebridge”. Is it 15 year or longer?[/quote]
MR bonds are typically for 30 yrs. unless the developer has paid some up front. The developments I’ve seen where this has happened have 20-yr. bonds.
[quote=kcal09]Also, can it be extended if there is a need to raise more money?[/quote]
No, the bonds are used to build the initial infrastructure servicing the development (police & fire stns., schools, libaries, etc.).
Only HOA dues can be raised and each owner specially assessed by a majority vote of its Board.
