[quote=temeculaguy]Something stinks in denmark. The math doesn’t work. With all the taxpayer watchdog hype going on, I wonder if any of these watchdog agencies would look into this, that district at appears to be raping people. They pay between 1% and 6% and charge 9%, not to mention their ability to raise the rate to the residents while enjoying a fixed rate? They also charge a fee to give out info that probably takes them a few minutes at a computer? I’m not a conspiracy theorist but something is wrong with this picture. I’ll bet a nickel the district barely understands it, this is screaming for an audit if you can find an auditor that understands the premise that borrowing 60k per parcel at 2-6% does not amount to 5600 a year with possible rate hikes.[/quote]
I called the managing company and asked about the possibility of rate reduction/refi by the CFD distric, what was said was that some of the bonds carry penalties against refis for up to 10 years. Hence the jacked up outrageous interest rate. As for the fees, apparently there’s some serious mega calculation they got to do to figure out the actual repayment. Go figure.
