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  #1  
Old 05-26-2025, 04:58 PM
ruth-gehrig ruth-gehrig is online now
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Originally Posted by raulus View Post
Brilliant strategy!!

I guess they don’t realize that their accounts are almost certain to be bought in bankruptcy, and the new owners will squeeze them to get paid.
I still have difficulty wrapping my head around this but my mom had a friend when I was growing up who's mortage company went bankrupt - that was the end of the mortgage. It didn't get bought out!. About half the original purchase price was wiped out. This was early 1990s in Kansas. I don't know the mortgage company name.

Seems the odds of this happening again would be nearly zero

Last edited by ruth-gehrig; 05-26-2025 at 04:59 PM.
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Old 05-26-2025, 07:48 PM
raulus raulus is offline
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I still have difficulty wrapping my head around this but my mom had a friend when I was growing up who's mortage company went bankrupt - that was the end of the mortgage. It didn't get bought out!. About half the original purchase price was wiped out. This was early 1990s in Kansas. I don't know the mortgage company name.

Seems the odds of this happening again would be nearly zero
Crazy stuff happens sometimes, no doubt. But more often, the stories tend to be a lot bigger than the reality, particularly when it comes to investments, getting free stuff, and saving on taxes.
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Old 05-27-2025, 01:39 PM
Yoda Yoda is offline
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I recall Mr. MaCawber in Dickens' 'David Copperfield who offered the sage advice to a young David: Income Pounds 100, outgo 99.9 Pounds, result happiness. Income Pounds 100, outgo 100.1 Pounds result misery. Still good advise today.
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Old 05-27-2025, 02:27 PM
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John1941 John1941 is offline
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Originally Posted by Yoda View Post
I recall Mr. MaCawber in Dickens' 'David Copperfield who offered the sage advice to a young David: Income Pounds 100, outgo 99.9 Pounds, result happiness. Income Pounds 100, outgo 100.1 Pounds result misery. Still good advise today.
Micawber actually speaks of twenty pounds, give or take six shillings - maybe you're adjusting for inflation. But yes - worthy advice from a flaky character.

(Though apparently £20 in 1850, when the novel was published, would be £3440 today.)
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Last edited by John1941; 05-27-2025 at 02:28 PM.
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Old 05-28-2025, 02:06 PM
Yoda Yoda is offline
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Micawber actually speaks of twenty pounds, give or take six shillings - maybe you're adjusting for inflation. But yes - worthy advice from a flaky character.

(Though apparently £20 in 1850, when the novel was published, would be £3440 today.)
John, thank you for chiming in. I am grateful you set me straight on cash amounts and humbled that I spelled Micawber's name wrong. Are you an English literature teacher or just a lover of Dickens, like me?
I wonder how many 18 year olds would have any idea what our posts are all about, or care. Or worse, how many Dickens' books have been pulled from library shelves for being too 'woke'. John
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Old 05-28-2025, 08:55 PM
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John, thank you for chiming in. I am grateful you set me straight on cash amounts and humbled that I spelled Micawber's name wrong. Are you an English literature teacher or just a lover of Dickens, like me?
I wonder how many 18 year olds would have any idea what our posts are all about, or care. Or worse, how many Dickens' books have been pulled from library shelves for being too 'woke'. John
I read a ton of Dickens when I was 11 or 12, and David Copperfield was probably my favorite. Haven't read any Dickens lately, but I do still like him. Not an English teacher (I am 18, after all ) but I love literature and read somewhat obsessively.

I'm currently reading Lord of the Rings for my fourth time (I am not ashamed to be a nerd) but maybe I should revisit Dickens when I'm done.
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Old 05-31-2025, 12:20 AM
vthobby vthobby is offline
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