I am not sure what Shaquille O Neal is thinking but I guess he really wanted to help people that are facing foreclosure in Orlando, Florida. Shaq wants to buy the mortgages of the people who are having trouble with their payments because of the rate adjustment coming up. He will then turn around and sell this mortgages back to the same homeowner but at a more affordable rates. It is estimated that Shaq is already holding around $50 million dollar portfolio on these kind of real estate.

It is a good gesture on his part but to help out those homeowners in Orlando, Florida. But being a banker will have its drawback when the price of the homes that he bought will be upside down. So if those borrowers decided to default and the prices are reduced to 20%, Shaq will be taking a huge loss.

I am not surprise that Shaq would do this to Florida residents instead of Phoenix, where he currently play, because of the fact that Orlando was his first home when he went into the National Basketball Association (NBA). Orlando is the home of World Disney and the port for a lot of Disney cruises . Anyways, my hat is off to Shaq for doing this great gesture to the community