How to Solve the Foreclosure Crisis

1799 Words8 Pages
“I can see clearly now, the rain is gone. . .” This is the music that was playing in my mind when a solution to our foreclosure crisis took shape. I was in one of my electrical engineering classes and was thinking very deeply about my assignment. Simultaneously, my mind kept flashing the images of hundreds of homes in my county going into foreclosure. More homes went up for sale every week. Driving to school as the semester dragged on showed us all how hard our neighbors were struggling and failing in Oakland County. My county was weathering a financial storm that spread across all of Michigan and most of America. Economic clouds on the horizon looked even darker. That was the rain. Then I saw a clear solution – The Rainbow Solution. This multi-faceted solution is more than a Band-Aid that merely treats a symptom. We can solve the foreclosure crisis with a more permanent, more comprehensive approach. Rather than treat one segment of the crisis, the Rainbow Solution addresses the full spectrum of America affected by this problem. “I can see all obstacles in my way . . .,” the singing continued. Such a win-win-win-win approach might lead some to dismiss this solution as a “pie in the sky” plan. Even the description “The Rainbow Solution” can sound naïve or immature – but only to those who have not thought it through. In general, there are two reactions to ideas described as “pie in the sky.” Some say any comprehensive solution is an idealistic dream. Others say such an approach is optimistic or inspired creativity. I say let us solve this problem and let us do more. Let us solve our crisis so it will not afflict us again anytime soon. Let us solve our problem in a way that benefits homeowners, our environment, utility companies, a... ... middle of paper ... ... and improved thinking to solve the foreclosure puzzle. Relatively simple technology can turn homeowners into stake holders in their own mini utility co-op. The savings in utility costs would be only the beginning of relief to homeowners. Neighborhoods could also become energy exporters if they wanted to and the additional revenue would go into their mortgage. Added together these benefits can help many piece together their picture of the American Dream. We have this ability now. A curious thing happens when someone first hears about this multi-faceted approach. At first, a person is definitely for it or thinks of it as “pie in the sky.” The curious part about the Rainbow Solution is that the more someone considers this full-spectrum plan, the more I notice them humming, “Here is the rainbow I’ve been prayin’ for. It’s gonna be a bright, bright Sun-Shiny day.”

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