T'was the night before listing......

I began to pace, running things over in my mind. Most of my friends were asleep by now.  I consulted Mr. Google concerning "Ft Worth Air Conditioning" and found A #1 Air, providing 24/7 service in the Metroplex. I dialed the number and an attendant promptly answered. I blurted out my predicament, ending with a desperate "what could be wrong with it?!"
  "I'm sorry Ma'am. I'm not a technician.  Let me get you scheduled tonight." He paused. "Looks like it will be between midnight and 2 am. Will that be ok?"
  "Yeah, sure. Thanks. I appreciate it!" I hung up and assessed my situation. 
  I had a technician coming.  I was also working tomorrow and needed to drop off Eddie and re-vacuum before leaving for the clinic. My alarm was set for 6AM. I wanted to call in.  I had worked for nearly three weeks straight, with only three days off. Oneof those days I had taken my LSAT; the other two I had spent working long hours to prepare the house. 
   I looked at my thermostat again.  Fixing central air has rarely been described as "cheap". My budget was already tight. My years as a military officer had taught me that adequate sleep was a luxury in the face of operational necessity. I would just have to deal with it. 
   I shifted restlessly in the darkness.  I only had $1000 in savings. Was that enough for a repair? What if I needed a new system? Would they let me finance it? My eyes burned as I squinted into the glare of my iphone.  
  Eddie purred, pushing his head onto my chest. I stroked him absent-mindedly. What could I do? I closed my eyes, succumbing to the fatigue.
  My phone was ringing. It was almost 1am. The technician was here. Sleep-drunk, I showed him the vents, outdoor unit and attic.
  "I'll be in the bedroom on the left, if you need me." 
  "Ok. I'll check it out then come find you."  I returned to the comfort of my bed, dozing as I heard his footsteps beside my window and then above in the attic.
  "Ma'am?"
  "Yep." I sat up, staring into the hallway.
  "You have a coil leak."
  "Ok. Uhhh. What do we need to do? Can you replace the coil tonight?" I was ignorant of HVAC system components.
  "No ma'am. That's a job that requires welding. It takes several hours and generally runs around $3000. How old is your system?"
   "9 years. It's the one the builder put in."
   "Those are generally cheaper systems. They only last 5-8 years, with regular maintenance."
   "Maintenance?"  My system maintenance had consisted of filter changes very 3-4 months. Born and raised in Western New York, I was completely naive to the needs of an HVAC system in Texas.
   "Yes ma'am, biannual cleaning and inspection."  He continued. "With the age of your system, its probably not worth repairing a component like that. Your better off with a new system."
   "What do they run?"
   "Depends on what you want. $6-7000 on average. I can set you up with a sales rep tomorrow evening" I hung my head. Had I eaten too much chocolate before bed again? Perhaps this was just a bad dream. 
   "Is there anything you can do to give me air tonight?" He added three pounds of freon (which cost me  $200) and scheduled a sales appointment for 8pm.
    What seemed only minutes later, I heard my phone jangle. It was time to get up. 
   C'mon girl, You've been through worse. I remembered my Air Force survival training. After days of little sleep and even less food, my companions and I needed to "evade" the pursuant cadre while trying to reach "friendly territory". Filthy and exhausted, we had been among the first to arrive, navigating successfully (and surrepticiosly) by map and compass. 
     I dressed and deposited Eddie in my neighbor's upstairs bathroom. My thermostat stood at a comfortable 72 degrees. I quickly vacuumed and opened the blinds before leaving. 
     At work, my tiredness threatened to consume me. I drank a Monster, exchanging somnolence for a jittery twitch. The clinic was slow as the day seemed to drag intermidably. There were no showings.
     I had resigned myself that I needed an new HVAC system. The technician had mentioned financing was available. What would my interest and payments be? How far back into the swirling vortex of debt would I be pushed? How much time would it take to install? Three days? A week?
     My neighbor texted me that Eddie has escaped the bathroom, taking up a defensive position in a nearby bedroom. 
     On my way home, my phone rang. The sales rep was on his way.  
     I hurried to retrieve Eddie, finding him wedged in a tight corner. Terrified, he growled and hissed, biting me on the hand as I crated him. I released him to the safety of my living room and scrambled to put away my work things. 
    My inside temp was 79 degrees. I could hear the outdoor unit stopping and starting in rapid succession. My $200 had bought me a day of AC and no one had come to see my house!  I just wanted to cry! Was I being a fool to pursue this dream? 
     There was a soft knock at that door. Just over an hour later, I had bought a Lennox 13 SEER 4 ton HVAC system with a 10-year warranty.  Installation was tomorrow. I was also $6500 dollars poorer, paying it back over 84 months at 5.99% interest (fixed). 
     Financial planners advise having three to six months of income in ready cash savings.  That kind of umbrella keeps you from getting soaked in sudden rain. I would be there one day, but for now I had weathered the current storm. 
     "If birds can glide for long periods of time, why can't I?" Orville Wright pondered. In 1903, two bicycle salesmen invested $1000 ($26,000 today) to build Flyer I. After four brief but successful flights, a sudden gust of wind damaged the plane beyond repair. Orville and his brother Wilber built another, pursuing their dream of what many said was impossible. 

If you find a path with no obstacles, it probably doesn't lead anywhere- Frank A.Clark


LSAT Score update: 163 (88th percentile). I am very happy with this. Did I hope for better? Of course! This, however,is what I need to be admitted to my school of choice, likely with a bit of scholarship help. 

Debt: A dream killer? Part 2

   I sat running the numbers.  Part-time tuition at Texas A&M School of Law was approximately $25,000 per year.  I would complete the degree in four years for an estimated $100,000.  The GI Bill would cover 40%, leaving me with around $60,000 in addition to books and living expenses. What did that break down to in a monthly budget? 

  Suppose I started school in August 2015, graduating in May 2019.  Since all money had to be paid by graduation, I had 58 months starting June 2014.  That broke down to around $1050 per month.  I had whittled my monthly budget to around $5,500.  That, however, was only making the minimum payments on my pesky credit cards.  I certainly didn't want to maintain my current debt for five years.
   I contacted my bank, USAA Federal Savings.  I had started using USAA during my time in the Air Force. Founded by and designed for military people, I have found them accommodating.
   I inquired about a personal loan to consolidate my credit card balances.  The three credit cards I still had were through USAA.  I explained what I needed, fully expecting to be turned down. Instead I was approved: $30,000, 7.5% interest, seven year term. For the lowest APR, I needed to purchase payment insurance (dropped my interest rate from 8.25 to 7.5%).  My biweekly payment was $243 ($526.50 monthly average).  I had been paying about $720/month in pure interest.
   I turned to my student loans. 

   The Wells Fargo Loan had ballooned with interest(post graduation) from $10,000 to $11,200.  With steady payments, I stood at 10,800 with 11% interest.  

   The Discover student loan stood at $8,486.88 with 10% interest.  I ran the debt calculator to find the necessary payment to eliminate both in 74 months.  Wells Fargo required a payment of $205, while Discover needed $155.00. Eliminating debt in seven years was longer than the five years (or less) I had originally hoped for. My monthly debt payments stood at $886.50.  That number burned me.  So close to what I needed, but it was going to pay for my foolishness. Perhaps I could get a scholarship.
   To be competitive for a law school merit scholarship, good grades and an excellent LSAT score are necessary. My grade point averages, undergraduate and graduate, stood at 3.94 and 3.48, respectively. Back in 2001, I had taken the LSAT on a whim, with little prep, scoring a 158 (77th percentile).  To qualify for at least a partial scholarship from a fourth tier law school (Texas A&M is currently ranked as fourth tier), I would need an LSAT score in the 160's.  

   I began to prepare and decided I needed a bit of extra help.  I looked at my options. Kaplan's LSAT test prep with a one-on-one tutor started at $2600.  PowerScore and Testmasters offered private LSAT telephone tutoring for around $100/hr. I wanted to know expressly who I would be working with, what their qualifications were.  Plus, I honestly couldn't afford $100/hr must less $2600.  

   I found one site, LSAT-Tutoring.com. Peg Tittle, the tutor, had once written LSAT questions. She had taught extensively and authored a book,"Critical Thinking: An Appeal To Reason", that was used in college level courses both in the United States and Canada.  Tutoring rates started at $75/hr, or $60/hr if the student committed to 10+ hours. I decided she was worth a try.
   With Peg, I made significant progress, understanding the test better, gaining speed and accuracy.  As test day neared, I took several timed practice tests, scoring an average of 165 (92nd percentile)  Aside from the general test angst, my LSAT went well.
   With score release in early July, I totaled up what I would needed per month during the school year.  Even with a scholarship it would be difficult to make bills. Expenses had to come down significantly. The largest among them was my mortgage. Should I sell my home? I hated losing the equity that I had in it. What about leasing?
   If I leased my home now, I could put back the extra money for school.  I would then have a bit of a cushion. In the event I was awarded a scholarship, I would need to maintain a certain GPA (usually 3.0+) to keep it.  During the term, if I could hold monthly expenses to $3,000, I would only have to work about 80hrs per month. This option showed promise.  So how does one lease out a home?