To: President Donald Trump, The California State House, The California State Senate, Governor Gavin Newsom, The United States House of Representatives, and The United States Senate
Mortgage Lottery
We can not wait for Congress to decide to help the American people. We must bail out ourselves. I propose a lottery, where not just one person wins millions of dollars, but millions win by having their mortgage eliminated!
Example:
Everyone will buy a lottery ticket for a dollar.
The computer will determine from the balance of tickets bought/sold how many winning numbers will be issued.
Say the winning number is "55." The computer determines based on the amount of tickets bought, it issues five tickets with number 55.
Those five people do not receive any money. Instead, they send in their mortgage and bank information, and payment is made to the bank up to $300,000 each, and their mortgage is eliminated.
Those with lesser payoff amount (ex: $53,000), the remainder is rolled over and used in the next draw.
The next draw the computer determines it has the balance of tickets sold, plus the rollover and issues 15 winning tickets, etc.
Fifteen people with winning numbers send in their information, and this time they are all over $300,000. The banks are paid up to $300,000 each, and the next draw the computer determines 3 winning tickets.
The people buying tickets keep the lotto going. The more people to buy tickets, the more winning numbers are issued, the more homes come out of the crisis, etc.
Everyone wins. The banks win, The people win, bankruptcy and foreclosures are avoided, people have more money to reinvest in the economy.
Example:
Everyone will buy a lottery ticket for a dollar.
The computer will determine from the balance of tickets bought/sold how many winning numbers will be issued.
Say the winning number is "55." The computer determines based on the amount of tickets bought, it issues five tickets with number 55.
Those five people do not receive any money. Instead, they send in their mortgage and bank information, and payment is made to the bank up to $300,000 each, and their mortgage is eliminated.
Those with lesser payoff amount (ex: $53,000), the remainder is rolled over and used in the next draw.
The next draw the computer determines it has the balance of tickets sold, plus the rollover and issues 15 winning tickets, etc.
Fifteen people with winning numbers send in their information, and this time they are all over $300,000. The banks are paid up to $300,000 each, and the next draw the computer determines 3 winning tickets.
The people buying tickets keep the lotto going. The more people to buy tickets, the more winning numbers are issued, the more homes come out of the crisis, etc.
Everyone wins. The banks win, The people win, bankruptcy and foreclosures are avoided, people have more money to reinvest in the economy.
Why is this important?
I propose a National Lottery that will pay off the winners' mortgage.
Those with mortgages will have their homes paid off, with no monetary exchange.
Winners will furnish mortgage and bank information, and payment is made to the bank up to $300,000 each.
Those with mortgages will have their homes paid off, with no monetary exchange.
Winners will furnish mortgage and bank information, and payment is made to the bank up to $300,000 each.