Stop Foreclosurest Group of Profit Plays

Foreclosures hurt the Buyer and the Banks.

Here is where we could start a System where Banks are only a means of exchanging dollars. On all these foreclosures change the payments the bower has made on his loan as a principle plus a charge at the % percentages according to the present signed contract and for the same number of years. This way the bower will have more equity in his home and all new payments will be less then one half his original payments, it was the Banks that enticed the buyer into purchasing the Home people could not afford. Now we have homes standing vacant and a poor real estate market.
Now how would this work in the real world?
To begin with we must realize that Housing prices are inflated by how the monthly payments are calculated (unpaid balance) and by the manipulation of Investors. The investors would in fact be using this as a means of saving for the future and will be able receive income from renters.
By making it illegal to charge any form of interest Banks will become money handlers and just receive a charge for this service. Banks are already charging for some of their services.
Products less expensive as the cost of the items would be based on the actual cost of producing the item, whether they are groceries, houses, automobiles, etc.
This will provide for a stable paperless system in use today.
It would permit having better budgets, better ways of imposing taxes for operation much smaller government. We would have a better way of establishing school systems and finance them locally. It will eliminates the need for a lot of our laws.
This will give us a better monetary system than we have today.
How can this stop so many foreclosures?
Start by taking all present personal mortgages and change any past payments made toward that mortgage and recalculate them as if they were payment in principle plus a service charge at the same agree terms.
As an illustration:
The loan amount is $500,000 at 6.25% for 30 years and monthly payment made were $3,078.59. That $3,078.59 has been paid for two years and three month or at total of 27 months. That amounts to $83,121.93 (27 times $3,078.59).
The calculations for that mortgage are as follows:
Monthly Payments will amount to $500,000 divided by 360 equals monthly payment $1,388.89 plus service charge $1,388.89 times 6.25% or $86.81
Buyers monthly payment will total $1,475.70
Mortgagee as paid the Bank $ 83,121.93 which amounts to $83,121,93 divided by $1,475,70 or 53.33 payments.
Mortgagee now has to make only 360 minus 53.33 payment to complete the purchase, for 25 1/2 year at the new $1,475.70 per month.
This saves the foreclosure and gives the Bank monthly income of $86.81 for the paperless digital transaction which today requires no personal intervention.