Hello Micawber,
Originally Posted by
Micawber
True that. But a mortgage didn't cost what a mortgage does now either. My parents bought for $27,000 and sold for $800,000.
My house cost me about $800k. Don't I have a claim for a free house by the same token?
They signed the note. The note might have been too large, but it was a negotiable instrument with a simple payment due.
I had a client with a side issue. Seems granny wanted to pay for poor little rich girl's Pepperdine education. They asked me to negotiate
a debt of about 300K. I had a warchest. IOW I could pay it all off lump sum. That's what we had to do because there is no SOL
on a government loan, and this person was not even in default. She certainly wasn't much of a hardship case. They cut a check for
balance in full. No wiggle room. Should she have gotten a free Pepperdine education? I advised against a strategic default to qualify for an
interest waiver, because they had the money to simply pay and not ruin perfect credit.
At some point life is not fair. That point might just include people who knowingly overpay for a college education. Forgive the interest, pay the nut.
Part of the problem is the inflation of college costs. When I advocate for free college I mean State schools with reasonable limits on the costs. The rates need to be set by the DOE, similar to medicare rates being set by the govt.
No way the tax payers should be on the hook for glitzy name recognition school fees.
Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.
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