I’m not an economist, but I can run a company budget. I think I have an effective way to make some adjustments to cash flow. Here is what I think of as a balanced solution to an out of balance problem.
Banks, Hedge Funds and Financial companies holding mortgage derivatives should pay a fee per share to cover foreclosed property maintenance. This money would be given to counties based on foreclosure property rate and cost of maintenance.
It would do some good:
- The money would be spent to maintain property owned by financial institutes and paid out of a fee per share pool.
- It generates Jobs in the community that is under blight pressure, easing pressure on unemployment and welfare benefits where needed most.
- Maintaining the property contributes to community value, pride and the local economy
- Since it is prepaid annually, Counties can budget and collect reliably and at low cost. Many individual collections today rely of courts and long, costly suits.
- Health services will be happy to have abandoned pools and spas cared for. Less encephalitis and other blood borne disease.
This is a plan to ease some of the pain and place the costs in the right place – the property owners.