Chapter 2: In Debt: The small, dilapidated house had a mortgage of over 1,140 guan!
The already dilapidated door was pounded on with a deafening roar, dust falling and creaking from the flimsy hinges. Before the debt-collecting monk could even open the Yao family's door, he had already knocked open the doors and windows of other houses in the alley, revealing many sleepy and curious heads.
Even the little boy who was standing in front of his house early in the morning, sighing repeatedly, was astonished and craned his neck.
The Yao family's reputation was already bad enough, so Yao Ruyi hurriedly went over and removed the door latch: "They're here!"
She was stunned when she opened it.
There was no sign of the vicious debt collectors; instead, a twelve or thirteen-year-old monk stood in front of the door, with a bald head, beady green eyes, and a crisp, starched gray-blue monk's robe covering his round, chubby body.
Perhaps not expecting someone to open the door so quickly, when Yao Ruyi suddenly pulled the door open, the chubby monk staggered and almost fell in.
He quickly steadied himself, stood up straight, his still-childish face tense, glanced at Yao Ruyi, coughed lightly, and solemnly took out a thick booklet full of writing from his pocket.
When Yao Ruyi saw the thick stack of papers, she thought the Yao family owed a lot of money, and her eyes almost popped out of their sockets.
To everyone's surprise, the young monk, who seemed to have picked up this manner from somewhere, arrogantly dipped his index finger in his mouth, unfolded a piece of paper, and read aloud, word by word: "Ahem, Mr. Yao, I am the eldest disciple of the Abbot of the Longevity Treasury of Xingguo Temple. My master has said that your family has been in arrears for three months' interest payments. The temple has already granted you several extensions, considering your past timely payments. If you continue to delay, we will send a copy of your house deed to the yamen and have the officials seize your property to settle the debt. You'd better pay up quickly!"
What a stiff debt collection pitch… Yao Ruyi glanced at the many curious gazes cast her way from the alley, and quickly raised her voice to declare, “I was just about to repay the debt, how could I have made excuses?”
The young monk was also taken aback, not expecting the debtor to be so agreeable. He looked down at the booklet in his hand, said "Wait a moment," and quickly licked his lips and flipped through a few pages. Finally, he found the corresponding statement, then put on a stern face and continued to read from the booklet: "Excellent, excellent, it should have been done long ago. So... today, the principal and interest of thirty-five strings of cash and eight hundred and twenty-six cash shall be repaid, not a single cash less."
Yao Ruyi was both amused and exasperated: "Little Master, please come in and talk."
She stepped aside to let him out the door.
The young monk scratched his bald head, said "Excuse me" and came in.
Upon entering, he looked around, noticing the bare walls of the Yao family home, the meager meal on the table consisting only of salted vegetables and rice porridge, and the pervasive smell of medicine. Turning to examine Yao Ruyi's pale, sickly face, his eyes widened in astonishment, pity, and regret. His expression seemed to say: "I had no idea that an official's family could be so poor!"
Yao Ruyi was almost amused by him; it was the first time she had ever seen someone urge payment like that.
She invited the young monk to sit down, poured him some coarse tea, and then asked, "May I ask your Dharma name, young master?"
“This humble monk is Wupan.” The young monk placed the account book on the table and puffed out his chest with an air of importance. “My master gave it to me, and it comes from the Platform Sutra, ‘The mind is vast and boundless.’” Afraid that Ruyi might not understand, he paused and added, “It means boundless and limitless, and that the Buddha’s teachings will endure forever.”
Meeting his proud, beady eyes set in his chubby white face, Yao Ruyi could only dryly echo his praise, "What a fine name."
Wupan was finally satisfied.
The original owner didn't seem to have seen this little monk before... She racked her brains, searching her memory, but to no avail. The original owner's memories were too fragmented; there were many things she didn't know. She didn't even know how much money the Yao family owed or why they were in debt. It seemed she had always lived willfully in her own closed-off, vacuum-like world, and Grandpa Yao had never specifically told her about these hardships of making a living.
The elders shouldered all the hardships outside, while she was sheltered in a small, airtight room. That's why a few sarcastic remarks or an illness made her feel like the sky was falling. Perhaps the original owner never knew how treacherous the world outside truly was? Her experience with people and events was far too limited.
But judging from the young monk's awkward way of collecting debts, Yao Ruyi was able to test him. She asked, "I don't think I've ever seen such a kind-hearted person as you before. Is this your first time traveling outside?"
Wupan nodded honestly: "Today, Xingguo Temple is holding a Dharma assembly. My master is too busy to come, so he sent me to run errands. He said I should also get some experience."
This is also a rather naive monk who was raised by his master, but he has now been sent out to gain experience, which is the right thing to do...
Yao Ruyi nodded somewhat sadly, and then asked, "I'm so sorry, little master. My family didn't intentionally delay paying the interest. My grandfather had a stroke and was bedridden for almost a month. He barely survived, but recently, my grandfather and I were accidentally overcome by coal smoke while heating the house. We had to recuperate for another half month before we recovered, which is why we delayed paying the debt... You just said how much you owe? Please calculate it for me. If the amount is correct, I will go and collect it now."
Wupan looked even more embarrassed upon hearing this. It was his first time collecting a debt, and he naturally wanted to appear fierce to avoid being mocked or looked down upon. But… if he had known the Yao family was in such dire straits, he would have knocked on the door more quietly earlier. Now, it seemed he had been rather rude…
However, despite his sympathy, he still needed the money, otherwise his master would not forgive him when he returned. He hurriedly pulled out a shiny red seal document from his pocket: "My master said that the interest plus penalty for three months is thirty-five strings of cash. This is the pledge agreement that your family signed with the temple. Take a look. We monks do not lie. It is all written in black and white."
Yao Ruyi took it and was dumbfounded.
The sign above stated that the Yao family's small, dilapidated house, located in the back alley of the Imperial College, had an initial mortgage of over 1,140 guan!
Moreover, this house was purchased jointly with other families.
The deed clearly states that this house was originally a three-courtyard mansion. The former owner was a powerful and wealthy man who, after committing a crime and having his property confiscated, had the house divided into two units and sold separately. The first two courtyards were bought by Lin Zhu, a former colleague of Grandpa Yao. The Yao family only acquired the rear courtyard, which also served as the backyard, for over a thousand strings of cash. Although the location was good, it was very old.
No wonder Yao Ruyi always felt that the bricks of the wall behind the house were newer; it turned out to be the boundary wall separating the Lin and Yao families—wait, such an old and dilapidated house costs more than a thousand strings of cash?
These housing prices are ridiculously high!
But thinking about it carefully, it makes sense. The one-third house that the Yao family bought is roughly equivalent to... a school district house in the capital city center of later generations, right next to the affiliated primary and secondary schools of Peking University and the main campus of Peking University... Suddenly I felt relieved.
As for the Lin family who jointly purchased the house with the Yao family in the contract, the original owner seemed to have some impression of them. Lin Zhu was originally the head of the Imperial Academy and one of the few close friends of Grandpa Yao, who had a bad temper. He had a son named Lin Wen'an, who was taught by Grandpa Yao when he was young. He was a well-known genius and prodigy. He passed the imperial examination at the age of seventeen and was appointed as a tutor to the Crown Prince. He had a bright future.
Because of his success in producing a 17-year-old Jinshi (a successful candidate in the highest imperial examinations), Grandpa Yao was once very famous. Many people came to him for guidance in their studies. The Lin family and other students from the Imperial Academy also frequently visited the Yao family. They seemed to have become the "outsiders" that the Deng family used to attack the original owner of the body.
However, no one was home next door at the time.
In the original owner's chaotic memories, there were many instances of Grandpa Yao sighing and grieving for Lin Wen'an. It turned out that this genius had fallen like a shooting star. He was mentioned only briefly in the book as having been arrested and imprisoned by the Prince of Jin's rebels during a palace coup, where he suffered severe torture. It was said that he was so badly injured that he was almost unable to get up. Because the climate in his hometown of Fuzhou was warmer and more comfortable, Lin Zhu had resigned from his official post a few years ago and returned to his hometown with his wife and children to recuperate.
Before leaving, he left the key with Grandpa Yao and asked him to look after the house.
But that doesn't matter. These fragments of the original owner's memories flashed uncontrollably through Yao Ruyi's mind before gradually burying themselves deep inside.
After figuring out how much money her family owed, Yao Ruyi felt relieved. She carefully asked Wupan how much debt he had to repay each month, but Wupan couldn't answer for a moment. He then frantically searched for the debt collection book that his master had prepared for him, and finally stammered out a long explanation to Yao Ruyi, leaving her completely confused and only able to keep asking him questions.
After a difficult discussion lasting about 15 minutes, Yao Ruyi finally understood—the Yao family and Xingguo Temple had a "pre-arranged loan," similar to the equal principal and interest loan method used by banks in later generations.
Of the more than 1,100 strings of cash, the Yao family actually only borrowed less than 800 strings from Xingguo Temple, but the annual interest rate was 5%, and they agreed with the temple to repay it within 15 years. So, the total amount, including principal and interest, was more than 1,100 strings, and the Yao family has now repaid it for 8 years.
Yao Ruyi, taking advantage of Wupan's youth, subtly inquired about how the Yao family, who were so poor they had holes in their pants, could borrow so much money. She also wondered how Xingguo Temple could be so wealthy, like a tycoon. Wasn't the temple afraid the Yao family would run away with this kind of long-term loan business?
“Previously, Lord Yao was the Chancellor of the Imperial Academy, and several other officials acted as guarantors for him. He also had a house deed as collateral, so naturally he was able to borrow a large sum of money.” Wupan was thin-skinned, and his face turned red as he spoke.
Yao Ruyi understood. If Grandpa Yao were to apply for a loan now, they definitely wouldn't lend him any money.
It seems that temple loans at this time also require background checks on repayment ability.
Then Wupan quickly changed the subject, praising how prosperous Xingguo Temple was, how many distinguished people came and went, how many good deeds it had done, and how many Buddhist scriptures it had taught.
He would pause every now and then, giving Yao Ruyi a chance to express her amazement.
She didn't find it annoying at all; she listened with great interest. She wanted to know all sorts of things about the world, and she was willing to listen to anything.
Thanks to Wupan, who inadvertently revealed information, Yao Ruyi fully understood the status of Xingguo Temple at that time: Xingguo Temple was one of the four major royal temples of the Song Dynasty, even higher in status than the later renowned Xiangguo Temple. This could be gleaned from its geographical location: Xingguo Temple was situated west of the prestigious Imperial Street, adjacent to government offices such as the Ministry of Rites, Kaifeng Prefecture, and the Censorate, and it was also the only temple bestowed a title by Emperor Taizong using his reign title, its full name being "Taiping Xingguo Temple".
This was no ordinary, remote temple. Even royalty, officials, and the Empress Dowager visited to worship. This explained why even a lowly monk like Wupan was unafraid of the powerless Yao family, a minor official. Therefore, Xingguo Temple dared to lend money because it wasn't afraid of borrowers defaulting. Similarly, there was no room for negotiation on this debt. If the Yao family didn't want to lose their house and still wanted to live within the Song Dynasty, they had to repay the "mortgage" on time.
Throughout history and across the world, mortgage slaves have always suffered!
As Yao Ruyi pondered these thoughts, she hid her fingers in her sleeve, her fingertips unconsciously tracing patterns in the air, mentally verifying whether the amount of debt Wupan had mentioned was correct.
Given a principal of 800 guan and an annual interest rate of 5%, the monthly interest rate would be approximately 0.42%. With a loan term of 15 years, the repayment period would be 15 x 12 = 180 months, resulting in a monthly repayment of approximately 6.375 guan. Grandpa Yao has repaid for eight years (96 months), leaving 84 months remaining. Using the equal principal and interest repayment method, Grandpa Yao has already repaid approximately 612 guan of principal and interest.
The remaining principal and interest amount to approximately 535 guan.
If we recalculate the debt for these three months, rounding it up to 6.3 kan per month, the debt that should be repaid is about 19 kan. However, according to the contract, the temple also charges penalty interest for interruption of offerings, which would amount to more than 16 kan over three months.
Yao Ruyi silently calculated it. Although her studies had been intermittent, she had always been good at math, and after so many years of illness, her grandmother had sold a house and mortgaged a small truck to the bank, so she was very familiar with these loan calculation methods.
Therefore, Wupan's initial estimate of 35 strings of cash and over 800 coins was not wrong, and he did not cheat anyone.
Once Yao Ruyi understood, she simply went back into the house to get him the money.
The original owner knew where Grandpa Yao hid his money; it was hidden in the brickwork under the woodshed.
Inside were loose silver and copper coins, as well as two 20-guan notes. Yao Ruyi took one note, added some loose silver, and then left.
When Yao Ruyi went to collect the money, Wupan excitedly went out to find a middleman to witness the transaction. When he returned, he took out a balance scale and silver scissors from the chain on his shoulder, weighed the silver, and then tore off a piece of paper for Yao Ruyi in front of the middleman. All three parties signed and sealed the paper, and the matter was settled for the day.
After the transaction was completed, Wupan beamed with joy. He not only clasped his hands in a respectful bow to Yao Ruyi, but also made an appointment with her: "Amitabha, thank you, Bodhisattva, for keeping your promise to repay the debt. I will definitely come again at this time next month as promised. I hope you will prepare the money. We will meet again next month. It's getting late, and I still need to return to the temple to help my master with worldly affairs. There's no need to see me off."
Yao Ruyi could only force a bitter laugh as she watched him pocket the money and skip away with glee.
After closing the door, Yao Ruyi stuffed the remaining silver back under the bricks of the woodshed, then squatted down in the middle of the firewood pile and coal briquettes, worrying.
A few fallen leaves swirled behind her in the autumn wind, while the scorching autumn sun shone down unhindered from above, making her even more parched.
When she took out the money just now, she calculated it again. Now that she had paid back the interest of thirty-five strings of cash, the Yao family's remaining wealth was only twenty-one strings of cash and six hundred and thirty-two coins.
Yao Ruyi's expression gradually became somber and serious.
Every month, I have to pay back six strings of cash and more than three hundred coins in debt, and I also have to cover my daily expenses. If I don't find a way to earn money and increase my income as soon as possible, my savings will be depleted in less than three months.
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Temples in the Song Dynasty were very wealthy and were the main force in lending money to the people. Lending was a legitimate form of "secular business" and was widely accepted.
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