My idea is some non profit gets setup to manage a system where someone announces their mortgage and then they can have friends, family and second and third degree friends and families finance your loan.

Let's say someone buys a $250k house. Each person puts in $100 and then they get a receipt showing they are owed $200 against their 1/2500th share of the mortgage. Repayments are paid the $200 in return in a random time frame of between the first month to the last month 30 years later. Repayment is completely randomized, meaning you could get your money back really soon... Or a really long time from then.

There are a lot of other ways you could build on this idea.

you are viewing a single comment's thread
view the rest of the comments
[–] 4 points 6 months ago (1 child)

there was a microloan thing to get some small stuff for people from poor countries to get equipment they need to farm or start a business. I would imagine something like that might work. Um but the whole friends and family you need to realize we are talking over a thousand people.

  • source
  • hideshow 1 child comment