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Foreclosure numbers, including all the stages of the process, have shown a decline but perhaps this is the lull before the storm. Prior to the February settlement the banks had slowed down their operations facing investigations at both state and federal levels. But since the settlement they are now geared to rush in again.
Miller and other attorneys general (minus some dissenting figures) are going ahead with a settlement with the banks in the issue of foreclosure fraud – giving banks broad reprieve. But this will not stop some of the attorneys generally independently digging for skeletons in the cupboards and bringing criminal charges against the banks.
There is full scale wrangling and mudslinging among the Republican presidential candidates but on the vital topics of unemployment and foreclosure all remained vague. Ron Paul has grass root committed campaigners. He is wooing the support of Romney’s Mormons, gun-owners, Hispanics and prostitutes.
Nevada has been slapped on three fronts by the effects of the Great Recession – foreclosures, unemployment and underwater mortgages. The government programmes have not helped troubled homeowners. The housing bust hurt the construction industry and the economy of the state suffered because of drop in tourists coming to gamble because of the pan-American downturn in the economy.
According to a study conducted under Harvard University it was noted that any one foreclosure, especially that which leaves behind a vacant unit can result in the cash-starved municipality spending thousands of dollars in related expenses. Banks are selling houses at heavy discounts and this is further causing prices to tumble.
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