SUBJECT: How powerful if said by NOBEL PEACE PRIZE WINNER
“Endorse…ideas,offer better alternatives,or challenge”
2007 Dr.Yunus.Nobel Peace Prize
This email is 100% original ………………………………… freely given for use in any way by receiver.
Corrected 03/19/2008:::::::::::::::::::::::::::::::::::::::to make you want to read on,just keep this thought:::::::::::::::::::::::::::::::::::::::::::::::::::::::::How do you borrow ONE TRILLION DOLLARS for ten Years without using money and have people begging to repay it so
you can cover your costs and make a profit of $112 Billion??????
A PLAN TO END MORTGAGE CRISIS !
A PLAN THAT MEETS ALL CONCERNS!
NO COST TO TAXPAYERS!!
A SPECIFIC CAUSE DRIVEN AGENCY THAT COVERS COSTS AND MAKES A PROFIT
SO IT CAN CONTINUE ITS SPECIFIC CAUSE—AFFORDABLE HOUSING!!
End foreclosure and short sales.Turn the defaulting loan into an AFFORDABLE HOME LOAN. A loan modification plan that has NO cost to the taxpayers. NOT A BAILOUT!
A cause driven agency that covers costs and makes a profit.
Not a charity,rather a repeating business venture.
NOTE:Thank You Dr.Yunus,(NOBEL PEACE PRIZE WINNER 2006)
FOR YOUR INSPIRATION!
__________________________________________________
________
All defauting notes
are purchased by the new agency thru
Tax Exempt Bonds,
however at no cost to the taxpayer!!!!
NO MONEY NEEDED,a 10 YEAR BOND
2.The lender is paid FAIR MARKET VALUE,This is just as unbelievable as # one.
3.New Mortgage is issued.
READ ON;
ENDORSE! CHANGE! OR CHALLANGE!
“EVERYBODY WINS”
THE EVERYBODY WINS PLAN :
A LOAN MODIFICATION:
TWO PART MORTGAGE
PART ONE:
A 7%(EST.) fixed rate mortgage with a 10 year amorization.,30% of the full note, up to but not to exceed 100% of the Fair Market Value.This part will allow a profit and create equity.AND CREATES A VERY LOW AFFORDABLE PAYMENT.
EXAMPLE:…………………….is used to show per $100,000.
FAIR MARKET VALUE………………………………..$100,000
LOAN AMOUNT…………………………………………$30,000
10 year Fixed payment@7%_ P&I__.$448 This is a must multiplier-$1.493/$1000
UNBELIVEABLE AFFORDABLE LOW PAYMENT******$448/month
PART TWO:
A prevailing fixed rate mortgage for 30 years. It is for the other 70% of the full note,plus a shared appreciation(a better word would be “a profit to the cause”) of 10% of original note.
Balance of loan……………………………………….$$70,000
SHARED APPRECIATION.(PROFIT)………………….$10,000
30 Yr LOAN@6%(prevailing)……………………….$80,000
PAYMENT, fixed.________________________..$480 P&I.
Per each $100,000
NOW THAT’S
AFFORDABLE HOMES!!!
A $200,000 home would be $896/month…10 years
then$960
Carmen Basilovecchio
9804 S Military Trail E-10
Boynton Beach,Fl.33436
1-800-284-8600
cbasilovecchio@aol.com
_______________________________________________________
DONE DEAL!! WHOA!! 70% of the funds needed has a cost for the 10 years!
HOW is that FUNDED AT NO COST TO TAXPAYER?????!!No real money needed.
The federal agency
(I will call “Freddie Aff” — as the Federal Affordable Housing Agency) will issue the new mortgage, PRINCIPAL AND INTEREST MONTHLY PAYMENT OF
($448/100,000) .
At the end of that term the new 30 year mortgage starts AND THE BORROWER will have EQUITY IN THE HOME OF $20,000,that portion of the principal paid back.WITH $10,000 (10,000/$100,000)being paid as shared appreciation(profit).Example Uses 6% as prevailing rate. for the 30 yr. mortgage..
New amount of remainder balance @ $70,0000,PLUS THE SHARED APPRECIATION becomes a new mortgage for $80,000 which creates a new principal and interest FIXED PAYMENT of ($480 /$100,000)
“Everybody Wins”
Freddie Aff would be funded by the sort of called for “State of the Union Address”
STATE AND FEDERAL TAX EXEMPT BONDS.03/17 Special note:The way the feds are DROPPING THE RATES this could be 2.25% !WOW!WOW!)
Bonds would be for 10 years with a rate of 2.25%.TAX EXEMPT. That rate is equal to the possible Fed Discount Rate.(03/18),a 50/50 chance rate maybe less than 2% by year end)The bonds may be issued in the amount required to resolve this current problem of defaulting or soon to be defaulting mortgages.Any Mortgage set since 01/01/01. This amount has been called a bottomless pit. (1)*
We will use the sum of ONE TRILLION DOLLARS as our example.(03/14,the pit could include FREDDIE AND FANNIE’s 10-20 TRILLION,but the crazy part is that’s no problem.The more needed the more profit,the more people benefit!) Yes, $1 trillion.
The amount alone would cost $22.5 billion a year in interest payment alone. How can a $225 billion 10 yr.cost make the tax payer a winner? Isn’t this a disguisted bailout?
NO, Freddie Aff will not be redeeming the bonds for 10 years It
WILL BE INVESTING THE BONDS!They will purchase the bad loans with the bonds instead of money!
THE BOND IS USED TO PURCHASE THE BAD LOAN!FREDDIE AFF as an AFFORDABLE HOUSING INVESTOR will receive 7% (the Estimated fixed interest rate) gain on Fair market value when it sets the new loan.Also Freddie Aff will receive as a return on its investment 1/3 of 30% of the money borrowed. Remember: First part of payments are @ 7%(est.) interest based on 10 year amorization. Freddie Aff will receive in payments $537.6 Billion at $448/month for 120 months.Returning $300 Billion principal and $237 BILLION to cover the entire cost of money for the total TRILLION,for the 10 yrs.If you say “Everybody Wins”,what’s the big deal,where’s the PROFIT!!!.
___________________The Math_____________________
First 10 years payments……………$448X120………………..$53,760
MINUS principal……………………………………………………$30,000
GAIN………………………………………………………………..$23,760
REAL
INTEREST COST FOR 100%……………………………..$225 Billion
!0 YEAR recapture amount…………………$237 Billion
THAT IS A PROFITABLE BOTTOM LINE
O.K., thats what part one does. Now what does part two have built in?
Remember the SHARED APPRECIATION?
That comes to 1/3 of the pincipal paid back.That is 1/3 of $300 bilion dollars.That is $100 billion dollars.(it would be $200 Billion if $2 Trillion Fair market value)
ADD THIS PROFIT
TO THE BOTTOM LINE!
Now Freddie Aff can continue making
AFFORDABLE MORTGAGES FOR AFFORDABLE HOMES.
AD INFINITUM
A CAUSE DRIVEN AGENCY;NO SHARE HOLDERS,COVERS COSTS AND RETURNS A PROFIT SO IT MAY CONTINUE. A CAUSE DRIVEN AGENCY THAT RECOVERS COSTS AND MAKES A PROFIT!!!!
NO SHARE HOLDERS,NONE
ONLY THEN CAN IT PUT PROFITS BACK INTO ITSELF TO SUSTAIN ITSELF
AND CONTINUE ON. _______________________________________________________________
*Note 1.
“Bottomless Pit”
As per latest news, Freddie Mac and Fannie Mae may be needing help on over $10 TRILLION of mortgages. Also Equity home loan defaults SOAR! This is greater than the GDP!!
……………………………………………………..
“EVERYBODY WINS”
Carmen Basilovecchio,
Broker/owner,
REMAX SOUTHEAST,
9804 S Military Trail E-10
Boynton Beach Fl.33436
1-800-284-8600
cbasilovecchio@aol.com
mylonglastname@aol.com
I am not an attorney,nor am I a mortgage broker,I can not give legal or mortgage advice(also a lousey speller and typist)
but I want to help as a real estate broker put an end to this crisis.
This information is not copyrighted and may be used by anyone.I claim it to be 100% original.
I ask anyone to question,refine,correct,any part of it.just keep “EVERYBODY WINS”
EMAIL ME : cbasilovecchio@aol.com
Please have someone,anyone check this out,IS IT POSSIBLE???
Please QUESTIONS??
Q&A:l
Q:What about homes already foreclosed?
A:Freddie Aff will purchase at Fair Market Value.Lender must have home in FHA approved condition.
This senario shows the true solution to the problem,IT CREATES A NEW END_ USER IT MAKES THE
HOME AFFORDABLE !!NOTICE:END_USERS -NO INVESTORS!!Those who got us here are the only ones now able to purchase(with low cost money)bidding 10-20% under fair market value using their greed to swing the pendulum the opposite direction from higher to lower!!END IT NOW!!!
Q:What about defaults at even this low payment?
A:There will be someone waiting to pick up the mortgage simply because even with this present debacle there is not enough affordable housing.As a matter of fact the defaulting homeowner may be entitled to 2/3rds
of shared appreciation!!!A second chance???
Q:the “State of the Union Adress” called for ‘State Bonds’.
A:O.K. “STATIE AFF” AN UNBELIEVABLE OPPORTUNITY LOST,ESPECIALLY FOR FL.AND CA.
WHAT THEY SEE AS A LOSS WOULD ACTUALLY BE A VERY LARGE GAIN IN REVENUE AS WELL AS
THE ELIMINATION OF THE COST OF AFFORDABLE HOUSING!!!
Q:What about homes already foreclosed?
A:Create new end users with these affordable rate loans.
DO IT ANY WAY YOU WANT,JUST MAKE SURE _______EVERYBODY WINS!
NOTE:03/14/2008
There is a direct proportional gain to the rate of the bonds.A WSJ report has a 62% chance the next rate will be at lease a .50% decrease and likely to be .75%.It is necessary to understand that even if the bonds that are used “like money” are even much lower then this example,we still use FIRST PART MORTGAGE @ 7%.The cause driven agency MUST make a profit to continue benefits,not a charity,not for greed rather to increase its CAUSE-AFFORDABLE HOUSING.
03/17 Can not wait till tomorrow! It is the low cost of funding that makes this plan possible!WOW!WOW The lower the cost of money the greater the Profit!!!!
Questions,Please.
03/17
MAJOR BANKING CRISIS:BEAR BOUNCED:WHAT IS SOOOO BAD OUT THERE THE FEDS ARE WILLING TO CREATE INFLATION THAT THEY WILL DEAL WITH LATER???THE LESSER OF TWO EVILS?INFLATION< THE OTHER IS THE WORLD has lost trust in the US banking system!!!!
03/18
Feds bail out bank with CHARITABLE GIFT FROM TAXPAYERS.I would have rather seen my method: a loan with a payback that is extremely affordable that covers cost and returns a profit!BUT WHO AM I???
03/19
WHO AM I is worried.The next bailout,like maybe ,the DUBAI PRINCE for ONE TRILLION DOLLARS?????
Carmen Basilovecchio
cbasilovecchio@aol.com
9804 S Military Trail E-10
Boynton Beach,Fl.33436
The Fed should think “out of the box”
