I would change a few things if it was all my money but if I was handed 70 billion dollars to save the economy....I would
Put all the money into a pool to be used to finance homes. Allow those seeking owner occupied homes and are buying pre-foreclosure, homes at the trustee sale or foreclosure homes to borrow money. Only one property and must be owner oc.
I would not look at credit scores but check and would not want back child support or tax liens showing up on them. If there was none of the extremely bad stuff on the report, and they had some stability in job history, I would loan the money.
The loan would be at 2-3% on a 40 or 50 year loan. I know it is low but I will have all 70 billion earning 2-3% interest within the 6 months. Not sure on my math since my commissions aren't quit this high but my calculator says 210 million dollars in interest each year. Heck after 5 years I have another billion to work with. Maybe I want 4%...???
I would also make sure this loan was not bankrupt-able. Have congress or who ever can get the deal done, make it so this is like student loans or something not able to be discharged in BK 7, 11, or 13.
Then each year take the profits and send out a check to each share holder. If tax payers are footing this bill, tax payers are the share holders and will be receiving the profits. Profits would be better than normal because there would be no executive earning over $250,000 a year including bonus, salary, expenses or any other thing. 250k year max. take it or leave it Mr. Executive!! That's all I am paying. Heck, maybe I will take the job....Buy me a boat, RV, couple more motorcycles and a few others.
Sounds like I just about solved the problem. Well I know it can use a little more thought process but until someone gets this to the White House and they call me up for my advice, I will consider it a good blog that earned me another 200 points!!!!
Happy Friday and good showing to all the agents!!!
Keep me in mind for The Arrowhead area of Glendale, AZ.
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