BASILOVECCHIO says: THEY MAY ALL BE CORRECT IF NO SOLUTION IS FOUND.....But
There are solutions and they will be discovered.This is the American way.
Contact information: Carmen Basilovecchio
Best Solutions Fl Real Estate
9804 S Military Trail E-10
Boynton Beach, Fl 33436
561-738-5188
THANK YOU
PLEASE
Change it,
Challenge It
or Endorse it.PASS IT ON
A SOLUTION TO THE HOUSING MORTGAGE CRISIS with accountable Bank Funding at NO COST to the taxpayers. By using the 1930's method,i.e., lower interest rates with a longer payback period.The ranch had to be paid for with a 5 year mortgage,till someone created the 25 year mortgage.
Using today's rates and knowledge,the entire inventory of troubled homes will become EXTREMELY AFFORDABLE and thereby
AAA and 100% asset based.At no cost to the taxpayer and an option for a profit to the taxpayers.
A special 10 year year mortgage with an automatic 30 year mortgage that includes
PRINCIPAL
INTEREST
TAXES and
INSURANCE.
PER $100,000 loan there would be a total fixed 10 yr. PITI payment of
.........$475........PITI with a 30 year fixed principal and interest payment of around $510 to $540.
FOR HOMEOWNERS;
Let them stay in their homes,
Let them be able to afford it,
and be able to manage it.
THIS IS THE REAL AMERICAN DREAM.
Help the 8% that have made this nightmare and thereby turn this challenge into a greater good for all.Re-establishing "CREDARE" .Faith in the American people,that we are credit worthy and will clean up this mess made by GREED.
This is a fast and great solution to the problem and it allows for time
to fix the blame and to do what is nessecary for future prevention.
..........Contact information:
Carmen Basilovecchio,Broker/owner,Best Solutions Fl,9804 S Military Trail E-10,Boynton Beach,Fl 33436
561-738-5188, Fax 561-364-7677, bestsolutionsfl at aim dot com
Problem solved: All homes become owner occupied.All housing supply will be eliminated by demand,created by those who wish to stay in their homes(85%) and by new homeowners (15% foreclosed or rented,Investor owned) because of the extremely low affordable rates.
ACTION:Solve Trillions of dollars crisis at no cost to the taxpayers,and allowing for a tax payer profit.
RESOLVED:ALL "underwater" loans and foreclosed homes to be purchased at 110% of FAIR MARKET VALUE.Loan to be marked "paid-in-full"This is a one time deal and could be done in 6 months are less.As allowed by Freddie and Fannie as part of their interest in securing mortgages and new condition for banks if they desire any federal help.
PURCHASE to be made with the use of 10 Year US Treasury Notes at 2.7%.NOTES will be given as payment in full.
Legislation is already in place for GSE agency to do this and also funding is already approved (TARP).
NEW LOAN: is a special "EVERYBODY WINS PLAN" loan
A 10 Year loan that has fixed payments (120) with payment number 121 (the magic bullet) ...... paying the balance in full.Because of the low cost of the funding(12/31/08 @ 2.08%)now @ 2.6% with the special long term payback this will be a very affordable payback.
TERMS FOR THE NEW LOAN:120 fixed, low, and affordable monthly payments that consists of........
........... (A) payment of total interest; (B)15% of principal ; (C)15% for taxes and insurance.
This is a total payment ,known as P.I.T.I.
MAGIC BULLET:Payment number 121..the new 30 year mortgage.. is given by a third party lender to the owner at a fixed prevailing rate,for the 85% balance.IF A TAXPAYER PROFIT IS DESIRED AT 5%,then the 30 year is to be 90% of the original new loan.(If 3 Trillion needed that's 150 Billion profit).
Example:$100,000 "EVERYBODY WINS LOAN"
LOAN AMOUNT $100,000 with payments to include:
A...Total 10 years interest............... $27,000
B...15% for principle reduction........ .$15,000
C..15%..TAXES and INSURANCE.....$15,000
TOTAL.......................................................$57.000
paid by 120 fixed equal payments of $475.00 each...... (wow, how affordable is a $100,000 mortgage
at a total P.I.T.I. payment of $475.00 per month???)Then the 10 year treasury bond is paid-in-full since a new 30 year fixed mortgage is acquired for the $85,000 balance.NOTE: if taxpayer profit is desired then the new 30 year loan is for $90,000.
To calculate payment for 10 year portion use a factor of 4.75 per $1,000.
Example:, if loan amount is $250,000;payments of $1187.50
($250 X 4.75 = TOTAL PITI FOR A HOME VALUE OF $250,000
at an unbelievabe low $1187.50
REPEAT: Extremely affordable.It is total payment...P.I.T.I.
Thank you,Paul Voelker......"An outside agency" Fannie Mae and Freddie Mac create
Freddie Aff (Federal Affordable housing)
Robert Shiller...."properly funded"(10 year Treasury Note)
Dr. Yunus..........." a profittable business that does
a social good."(Freddie Aff a business plan with a
social agenda)
THIS is in small print because everyone is told,"You must read the small print"
If Americans do not help the 8% that distroyed their home values and helped push us into this depression
because they are "greedy pigs,or why ;we have been financially responsible".BEWARE
The result you reap will be done to you.If you wish to bury them be prepared to be buried.
For this to be a full solution,that is making the asset 100% whole,the difference between the new borrowers loan and the UNPAID LOSS has to be addressed
Lenders are given 110% of Fair Market Value which the borrowers pay back.The lenders would also be given the
"PHANTOM AMOUNT" ( the actual amount of the bad loan that is loss).
The payment is in the same form-the 10 year Treasury.
Once again,with terms and conditions for repayment at a profit!
Out of money loan to lender:10 year payback that includes Principle and Interest
25% of loan amount full interest plus .25% with payment 121 being the 75% balance making the loan paid in full.
If 10 years recovery is not sufficient the payment
could be a repeat of the process( repeat with a new
10 year loan)
Example:per $100,000
120 payments for.............$25,000 principle
............. $29,500 Interest (2.7+.25)
at $425 per month.
Banks will easily earn that money from using the money given , PLUS THE FREED RESERVES.
NOT TO BE A BAILOUT.A BUSINESS PLAN WITH A PROFIT!
And please no court imposed "cramdown" with a bankrupcy.The banks should ask for a hand out if the government uses that against them,as it may literally
force them out of business as it will wipe out any possible recovery of the
LEVERAGED losses.
We do not want to see where that will lead.
Contact information:
Carmen Basilovecchio
Best Solutions Fl
boynton Beach,Fl 33436
"EVERYBODY WINS PLAN"
THE ******MOST UNBELIEVABLE PART*********
the agency(GSE's) and the funding ($700 Billion "plus what is needed") is already legally there,so this could be done within 90 days!!!!!!!
An anouncement of this plan
with details would create an immediate RELIEF and "CREDARE"-CREDIT-TRUST in the AMERICAN SYSTEM.
Carmen Basilovecchio
Best Solutions Fl Real Estate 9804 S Militar yTrail E-10
Boynton Beach,Fl.33436 &nb sp; 1-800-284-8600
cbasilovecchio@aol.com ********* bestsolutionsfl@aol.com
REQUEST DETAILS,ASK QUESTIONS
More details:
A fair ,fast action business plan ; a loan modification to end foreclosures, defaulting or soon to be defaulting loans,establish firm housing prices,re-
establish the faith and credit of the American homeowner.At no cost ,rather a profit to the taxpayer.
* EVERYBODY WINS PLAN*
PERHAPS The first step is to form a NEW agency
to last for ten years,owned by taxpayers,hopefully with 5 or 7 Directors .
( Former Pres.Clinton,with Former Pres.Bush,Bill Gates with Warren Buffett, Sheila Bair, Paul Volcker,Robert J Shiller ????)
This new agency will be adequately funded,and as described will operate as a profit driven business,not a bailout plan.THE LEGALITY is already there.
we could call this agency "FREDDIE AFF" (FERERAL AFFORDABLE HOUSING)
THE MAGIC BULLET"
Freddie Mac and Fannie Mae can create legally a branch,(Freddie AFF)
that legally can re-modify all loans it has using power it already has had legislated to them,and it has already been funded by congress at an UNLIMITED AMOUNT.(There is no limit on TARP).
All passed and signed in law!!!
A 10 year fixed rate Treasury Bond bond is used by this new agency to pay for all foreclosures , defaulting and "underwater" loans.The discount rate still allows for a 2.7 10 year Treasury Note! !(10 Year Treas.@ 2.7% an unbelievable high with the discount rate at 0%).
THEY ARE NOT SOLD ON THE MARKET!They are issued as replacement for the present loans.
Freddie Aff is to purchase from lenders all loans that seek modification,and pay lenders 110% fair market value(the real asset value) and 100% of lost portion of asset tha t was packaged and sold.Asset must be made whole,100%
Everybody must win in order to succeed..This Fair Market Value can be a written document acquired in days ,one for each and every single home out there.There are over one million real estate agents just a phone call away that can do this at an extremely low cost effective method.Cost could be capped at $9 9 per household.GET IT FREE ON THE NET!
Lender must sell all loans on which borrowers seek modification,because all American homeowners were and are victims.(Remember blame fixing will come)Loans are marked "paid-in-full".In this portion (borrowers) pay off the new loans which shall be a "HOMESAFE 10/30 LOAN.(As Described.)Yes,borrowers will be winners.
There is a gap between this new true asset loan amount and the bad or "toxic" loan,we shall call this amount the "out of money" amount. This must be made whole.From the bottom up to the Trillions..
The "out of money" loss- 100% of which will be paid directly to the lenders ,thereby covering 100% of the refinanced CDS "true asset value" of their money already loss.This portion (lenders)will be dealt with a by the EVERYBODY WINS 10 year loan special loans.YES,even the lenders will be winners.Yes at NO cost to taxpayers rather as an investment with a net profit.This is a business plan that has a payback agreement attached to it.
NEW LOAN with an AFFORDABLE PAYMENT is then set with collectable terms and conditions,thereby turning Bad Loans into Good LOANS.
THE BORROWER WINS,the LENDER WINS,but yet we need everybody to win.YES,even the taxpayer,the real provider of the money shall win because beginning with immediate payments that end in just 120 months this entire "EVERYBODY WINS PLAN"
INVESTMENT will have ALL principle,interest and profit paid back!
For EVERYBODY TO WIN the payments Must be affordable , collectable and AAA credit worthy.
Freddie Aff will be a totally taxpayer owned corporation with a ten year life span,it will be a profit making venture , fully funded by the use of 10 Year Treasury Bonds.
The bonds will be used to purchase all the bad loans in afore mentioned manner.This could be done in an unbelievable speedy manner at an e xtremely cost effective method.As mentioned a Market evaluation in just days with a million real estate agents begging for the opportunity.The
home owner will then make an appointment with a title company or attorney of their choice,who will complete a HUD-1 Statement once again at an extremely cost effective method ( This could be capped at $499)
The new agency can then settle (close ) the contract with Freddie Aff. Immagine payment will start immediately on a 100% asset backed AAA loan at settlement (closing) with two months payme nt.
HOME SALES INVENTORY DRASTICALLY REDUCED,NEW HOMEOWNERS CREATED!
AFFORDABLE HOUSING.WOW!
This is a business plan that will let everybody win,"EVERYBODY WINS"
This can be done within 90 days.
"CREDARE" latin CREDIT......TRUST will be restored.
Carmen Basilovecchio
Broker/owner Best Solutions Fl
9804 S Military Trail E-10
Boynton Beach,Fl 33436
561.272.4200
