Shaquille O’Neal To The Housing Rescue

The New York Times reported that Shaquille O’Neal may bail out foreclosed mortgages for residents in Florida residents. Treasury Secretary Henry Paulson has repeatedly called for private sector solutions to the housing foreclosure crisis, so if Shaq couldn’t be there to bail out Kobe in the NBA Finals, maybe he can reprise his Kazaam role and grant wishes for troubled homeowners.

MORTGAGES BY SHAQ So far, the mortgage crisis has appeared to challenge one big man — namely, Treasury Secretary Henry M. Paulson Jr., who stands at an imposing 6-foot-1.

Now another big guy is pitching a housing rescue plan: Shaquille O’Neal, the 7-foot-1-inch basketball star. Mr. O’Neal wants to buy the home mortgages of Floridians facing foreclosure and then provide them new mortgages with better terms. The owners wouldn’t be forced to turn in the keys and Mr. O’Neal could turn a small profit.

“I want to come in not to kick them out, but to work with them and save them so they can stay in their homes,” Mr. O’Neal told The Orlando Sentinel.

More than 2,000 residents have e-mailed him for help, according to news reports. It is unclear if Mr. O’Neal’s proposal could be replicated on a national scale, like the plans being floated by Hope Now, an industry group of lenders, investors and credit counselors.

A Treasury Department spokeswoman declined to comment on the feasibility of Mr. O’Neal’s bailout. Of course, Mr. Paulson has consistently stressed a private-sector solution.