With one skeleton after another tumbling out of the cupboard of Baum’s legal firm dealing with foreclosure it has been compelled to down shutters; Fannie and Freddie has taken away from it all assignments. The focus on these shoddy practices is good for all although the delay in processing will further tell on the housing market.

The two month old encampment at Zuccoti Parkin New York City was dismantled by the local authorities citing health and safety concerns. The Occupy protestors then launched into action targeting New York Stock Exchange. There were some fisticuffs with the police, few arrests but the exchange opened timely. Action day was launched across America.

The stress and anxiety due to foreclosures is telling on the health of the people right across the country, according to a recent study. It found a link between certain ailments leading to visits to the emergency room and hospitals and foreclosures. The states worst hit by the foreclosure crisis came under the study while the age group range 29 to 49.

A bill has been introduced by two senators (Republican and Democrat) sending an open invitation to the rich overseas to buy residences in USA. They would have to pay a minimum amount in cash to make the full purchase. Tourist visas would be granted to them and not work visas. It is hoped that this would clear up the stockpile of properties languishing in the market.

Obama is using pressure tactics to make the rebel attorney generals come down from their stand and agree to the settlement deal with the banks. The recalcitrant attorney generals do not want a $20 billion settlement but a $200 billion one. But aside from the amount the people have a right to know what led to the foreclosure crisis.

Veterans are finding themselves in dire straits fighting a battle with foreclosures – a war they cannot win. Without jobs, weighed down by spiraling interests and step-motherly attitude of the banks they are falling back in life and living. Each veteran has the same tale to tell.

In Madison County foreclosures are pulling down the price of properties in the neighbourhoods; it is worst where there are clusters of foreclosed units. Experts think that unless the unemployment scenario improves foreclosures will continue. In the city the assessed value of real property fell in 2010 by 3.5% from 2009.

With the start of the new rule that mediation has to precede non-judicial foreclosure in Hawaii, the numbers of foreclosure lawsuits have increased while non-judicial numbers have declined. Critics contend that the law is defective as heavy penalties are imposed for small transgression.