George Graham

It Can’t Be This Simple, But…

I have a simple solution to the American mortgage crisis. Trouble is I’m afraid it’s so simple that I must be overlooking something or surely the government would have come up with it by now.

So tell me what’s wrong with this idea:

The government should empower one of its agencies to buy up mortgages when the mortgage holders founder. Simply pay off the lender and give the homeowner a new mortgage at an affordable rate.

That would save the homeowners from losing their homes and create a new revenue stream for the government. The loans would be backed by real estate, which cannot fail to rebound in value. And the lenders would be protected from disastrous defaults.

There must be a hole somewhere but I can’t think of one. Otherwise, I am sure our wise leaders would have implemented such a plan by now. If you can see the flaw in my reasoning, please let me know.

About the author


I am a Jamaican-born writer who has lived and worked in Canada and the United States. I live in Lakeland, Florida with my wife, Sandra, our three cats and two dogs. I like to play golf and enjoy our garden, even though it's a lot of work. Since retiring from newspaper reporting I've written a few books. I also write a monthly column for