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.

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[–] 5 points 6 months ago (1 child)

I see no benefits to me owning even 1/2500th of somebody else's house. I'd rather give my friend $100 so they have a place to live and be done with it.

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  • [–] [S] 1 point 6 months ago

    Well one of the other 2,500 people might, so it's there to give the legal protections they need to recoup their investment. But I agree, a majority of people wouldn't see it as an investment. I would have no problem giving dozens of acquaintances $100 if I knew for sure it would lead to them getting a house.

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