Charity Work

lurking wierdo · January 08, 2011, 07:10:07 PM

Glad I can finally post this. A number of my racist friends and I started putting together a hand up not handout idea a couple of years ago. After 27 months we are presenting it to the recipient tomorrow. We vetted the family with the local Salvation Army. The husband/father is 27 has 4 kids and works as an exterminator. We purchased a 3 bedroom home (short sale) an existing exterminating business and an SUV. Total cost to us was 385K. We are giving it to the family (along with a 15K LOC). They will need to sign a contract with us paying us back in 5 years with 10% simple interest (440K). As most all of us are in business management, we will also have an advisory board for the business. We decided to really push the last month in order to accomplish it in honor of the extension of the tax cut. I don't think I will sleep tonight.

Sgt PSN · January 08, 2011, 07:13:44 PM

You should probably have your lawyer add a section to the contract that requires a vasectomy. Preferably for everyone involved. Including the lawyer.

lurking wierdo · January 08, 2011, 07:21:29 PM

No, we all tend to believe in liberty.

PhillyPhreak54 · January 08, 2011, 07:57:49 PM

Good stuff.

Diomedes · January 08, 2011, 08:23:33 PM

440k in debt is a strange way to help a man. I predict he will disappoint you, which is what you're after anyway, so you can tell everyone about how awesome you were to help him out, just to have him louse it all up, lending you further anecdotal evidence that the poor are just lazy and stupid.

lurking wierdo · January 08, 2011, 08:37:53 PM

No, the house is worth approx 350K in a decent maeket(the original owners owed 600k). There are considerations built in. Its close to no fail. We do want this family to prosper so they will vote he right way. Commie libs like you think the government could do a better job with 400K.

Diomedes · January 08, 2011, 09:08:17 PM

fyi

Quote from: lurking wierdo on January 08, 2011, 08:37:53 PMYou are ignoring this user. Show me the post.

Sgt PSN · January 08, 2011, 09:09:34 PM

I think a Commie lib like Dio could do a better job with 400k.

Charity is helping a down on their luck family get into a modest home. What you're doing is essentially a handout as you are giving these people something that is well above their means to earn on their own not to mention that youre putting a family in a home that they likely won't be able to afford to heat, cool or pay taxes on....assuming that they are able to make their payments to your group of do gooders.

lurking wierdo · January 08, 2011, 09:16:27 PM

Yeah he would give a 1000 families 400 each. For what? These people can and will succeed. With existing clients, he should make 100K this year. Just that should cover the 13k annual taxes and 9K in utes.

Sgt PSN · January 08, 2011, 09:22:36 PM

No, he'd buy weed and booze and would literally piss half of it away and the other half would go up in smoke.....and it would still be less wasteful.

Why buy them a 600k home? Why not something in the 100-150k range? Why a gas guzzling SUV instead of a minivan? 27 years old and 4 kids? Yeah, get that dude snipped. Now you've spent at most, 185k. Now take the other 200k and put some in college funds for his kids or maybe use it to get the wife through college so that could someday, I dunno, work?

The intentions are good but it seems like you're giving these people gaudy possessions instead of putting them on track to be self sufficient.

shorebird · January 09, 2011, 12:05:48 PM

10% "simple interest?". Don't know what that is, how is it better than the 4.5% any mortgage company is now offering to anyone with the right credit? How much would he be paying back with that rate? How is an exterminator gonna' pay back 440K in 5 years? Is that how long he has to qualify for a mortgage?

rjs246 · January 09, 2011, 12:11:40 PM

This whole story is farging retarded. Spending 400 grand to help one family. Jesus. You could spend a quarter of that and help LOTS of families. I don't even understand the point of this endeavor.

lurking wierdo · January 09, 2011, 01:07:52 PM

10% simple means a flat non compounded rate. 400K initial means 440K in 5 years. It just allows it not to be a free charity give away. Good for self esteem.

lurking wierdo · January 09, 2011, 01:53:40 PM

RJS the point is not to pay an electric bill or supply a weeks worth of food. The people involved are successful and the requirement to be involved is pretty steep (minimum is 10K). This intentionally limited to 31 donors. We want to share the American Dream with this family. Realistically, they probably could have struggled along for years but never really gotten anywhere. Now they have a chance to be successful and upwardly mobil. The hardest thing, by far, was picking a family. There was no publicity or application process. We have never seen or met these people. Some of the requirements were; at least 2 kids, a marriage license, attendance at church, reasonably drug free (or at least the appearance to be), some kind of valid trade.

Munson · January 09, 2011, 03:02:50 PM

I don't think anyone is saying it's a horrible thing. It's definitely a nice thing to do.

But what makes you doing that any different than the government trying to get its citizens health care? Or trying to keep unemployed folks from going under and losing their homes?

The only difference is you don't like your tax money going to help people you don't know. But it's still help none-the-less. The private sector has proven incapable of providing all of its citizens with reasonably affordable health care, so the government finally stepped in.