[quote=SK in CV][quote=flu]You cannot pay off the MR most houses in Carmel V have (at least the MR of San Diegito, and DMUSD). I tried to call to do that, but they don’t allow for that.[/quote]
This doesn’t sound right. MR are special assessment bonds, meaning there is a legal document to back up the assessment. There could be pre-payment penalties, or possibly zero economic advantage, but “cannot pay off” is contrary to every bond document I’ve ever seen. (there are non-callable bonds, if they’re paid off early, they have to continue paying interest anyway.)
It is possible that the bond servicer has a strong motivation to discourage payoffs. I found this link that appears to guide a homeowner in finding the actual bond documents.
