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states foreclosures in general are looking better. month over month, year-over-year, we're down significantly, 16% i think year over year. but we're seeing a strong bifurcation along the lines of judicial versus nonjudicial states. >> explain to us, explain the difference and why that's important when it comes to fore-- foreclosure. >> the difference between those is in judicial states you require a judge in a courtroom to approve the foreclosure and of course the reason why you see the bottleneck there is in those states is because the of the delay and investigations in lawsuits, changes in the rules and procedures required to do those changes. the problem of course then is that in those states, florida, for example, we're seeing foreclosure goes up because they were backlogged for so long. so in florida foreclosures are up, 24%, year-over-year and 11 months of increases meaning this is not just a blip on the radar screen. >> this is a state in florida, where we are, where the economy comes together as a political issue, foreign affa

the number of foreclosures nationwide are down 16% from september of last year. but in florida, one of the hardest hit states, foreclosures are still on the rise, up 24%. manuel bojorquez in ft. lauderdale has one man's story. >> reporter: 72-year-olds can june has spent two years trying to hold on to his home in foart lauderdale. you're angry. >> angry! beyond that. >> reporter: juneau went into foreclosure after his dry cleaning business failed. the air force veteran's only income is social security, not nearly enough to pay his $2800 a month mortgage. >> i'm trying to call everybody i can, send them letters, trying to get them to help me instead of throwing me into the street. >> reporter: and? >> absolutely no responses. >> reporter: 18 of the 50 cities with the highest foreclosure rates are in battleground states, florida, ohio, wisconsin, colorado, and nevada. >> we're going to finally get this housing market going and get jobs again and get this economy growing. >> reporter: mitt romney's solution would be to ease government regulations to encourage lender

. >>> new hope for homeowners facing foreclosure. there's an extended deadline now for free help that can save you money, even your home. >>> as you can see, there's a lot of money being spent in this casino today. i'm tracee wilkins. we'll break down where all of the money is going and what is now considered maryland's most ♪ ♪ ♪ [ male announcer ] combine the pnc cashbuilder visa credit card with a qualifying pnc performance select checking account and earn 75% more than cards earning 1% cash back on almost everything. >>> fast forward through the headlines. the stabbing at a high school in silver spring this morning sent one student to the hospital and the other to jail. police tell us a northwood high school student stabbed another with a knife. the two had reportedly been in an argument last week. the victim is expected to be okay. >>> investigators are looking for the cause of a fire at the stor-all storage facility on sudley road in prince william county. more than 80 units were damaged or destroyed. >>> president obama, mitt

states for foreclosure. brought home a zero on her math test and brought it up 45%, she's still failing. in most of the judicial states, the foreclosures are actually up. here in florida, foreclosures are up by 24% 11 months in a row. we're seeing similar problems with the price trends. prices are bumping along the bottom, which can be worse in the long run than sharp drops. historically, we're still really far away from where the price trends should be. >> fran, you see it the other way, don't you? why? >> i do. i think that the third and fourth quarter last year was obviously a standstill. we saw a lot of little movement happening. then what we saw is that the u.s. economy overall was actually not really doing so well in the stock market, unless you're in apple. at the end of the day, we saw people not really sure what was going to happen in terms of whether they were going to get a pay increase on wall street, if they were going to get paid at all. what we saw in the first and second quarter of this year

new numbers today show an improvement in the foreclosure crisis. anthony mason tells us what this means for the economy. officials say the pharmacy linked to that deadly outbreak of meningitis was operating illegally. dr. jon lapook has the latest. and elaine quijano on a debt america can never fully repay. owed to this hometown hero. >> this is awesome. okay? ( cheers ) yeah. . captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. tonight's face-off between vice than vit joe biden and congressman paul ryan is getting a lot more attention than vice presidential debates usually get. the obama campaign is looking to biden to stop the momentum mitt , mney has enjoyed since the debate in denver, which governor romney was widely perceived to job is . ling.s job is to keep romney's al gallu rolling. today's national gallup poll of likely voters shows governor romney with a slender lead of one point over the president. of course, that's within the lly a tie.error so it's essentially a tie. tonight's debate

some individual states saw a rise in foreclosures, realty's v.p. says the anything suggests the country has pulled through the worst. at the same time, the labor department reports the number of people seeking new jobless claims plunged 30,000 last week, dropping to the lowest level since 2008, a year before the president took office. there is a catch. isn't there always? the labor department official says that a large state may have accounted for the dramatic decline. analysts are saying the drop was likely more moderate nation-wide. now, context and perspective from gerri willis from the fox business network, anchor of the willis report. why is it they are saying this may not be as dramatic as it seems? >>gerri: this is unbelievable. the labor department official you mentioned is saying that there is one large state that left out a bunch of clients and not completely reported so that drove down the number. they will not say which state but there is conjecture that it is california. that can make a very big difference in the numbers. this is so im

foreclosures, for example, remain high.here obamacare struck a nerve with the statings nearly 3 million seniors, income femme to 42499 and same goes for colorado which saw incomes fall from nearly $60 # ,000 a year in 2007 to around $55,000. in virginia, which has some of the nation's highest incomes, they saw an average salary of $65,000 drop to under $62,000. iowa and wisconsin have incomes that have actually risen in the last year, but they are still down from 2007. people look at the states where residents faced a loss of $5,000 in income or more and say that's not that much money. consider this. the average family earns less while paying more for gas. 134% more since obama took office. more for food, 54 #% more. even vice president joe biden agrees. >> this is deadly earnest, man, deadly earnest. how they can justify -- how they can justify raising taxes on the middle class that's been buried the last four years, how in lord's name can they justify raising their taxes? gerri: buried over the last four years. that's abs

short sales surpassed foreclosures last spring. government has a short sale insentive program and banks want to do them because they get credit for them in the $25 billi billion. so in 2007 congress passed the mortgage forgiveness debt relief act. it was extended through this year, but it's about to expire. now thanks to the fiscal cliff, these types of tax relief extensions not so popular and this one is stuck in congress. should the tax exemption go away, millions of troubles borrowers could go to foreclosure. >> thanks very much. let's go right to stevemeister, he's the managing partner, he is a real estate expert. what happens here? how bad is this going to be? if the bush tax cuts are not extended and the short sales are of course a taxable event, what's going to happen, are we going back to foreclosures and more price collapses? >> i think if it doesn't get extended as part of the election year politics you are going to see a sharp dropoff in short sales and on on the of that the whole asset class is drying off as amatter. bu

the sheer number of foreclosures in minority neighborhoods has been hard to keep up with.it's at the point when the owner leaves that it becomes vacant and trash gets dumped, people break in, steal copper." a bank of america spokesman turned down our request to elaborate on bank policy. he did point out that the group has held three news conferences on this subject in the last four weeks. hedge funds and other large investors continue to hunt for homes and apartment buildings. investment funds are taking advantage of areas where home vaules are still low and foreclosed properties are plentiful. recently, fannie mae sold a bulk of foreclosed homes to investment companies. while it could help stablize nieghborhoods, some fear a glut of rentals could hurt them. reports say ben bernanke could soon bid farewell to the fed. the new york times is reporting that fed chair ben bernanke is telling friends he may not stick around for a third term at the fed. his position is dependent on election results. mitt romney has said he will not re- nominate bernanke if elected. the times say

the city announced plans this morning for a new pram aimed at preventing foreclosures.he comprehensive foreclosure prevention and mitigation plan will help people explore their options. a new federal loan fund calmed restoring ownership opportunity today or root set aside $1.2 million for the program. >> it's heartwarming to be here in my own district to see how this money is going to be used. and it's going to be used to really make sure that we can help stabilize families by allowing them to stay in their homes and keep communities in tact. >> and the plan, community workers will go door to door to contact the 3500 oakland residents with foreclosure issues. hosing agencies will then work with home owners to find a solution. >>> advocates for the well being of children in california issued a report card today. today's report by children now out of oakland put santa collar a county in the top third of 15 categories. the annual card tracks 28 indicators for the well being of kids in the state's 58 counties. a teacher at northwood elementary says a student's success is of

. >>> foreclosure filings hit five year low report released this morning shows foreclosures are down nationwide an average of almost 7% over last month and down 13% from a year ago. the report shows foreclosure properties are selling at higher prices 12% more on average. >>> searchers in miami expect the death toll to climb to four after massive parking collapse at a miami college a third person died hours after rescuers pulled him from the concrete. authorities expect to find a fourth body of a worker who has been missing since yesterday's collapse. the ceo of the company said there was no warning that anything was wrong. >>> new information on what caused tragic death of newborn giant panda at national zoo in washington. the cub was born last month to a lot of fanfare and joy but it died six days later. a necropsy blames a liver problem. the panda's lungs were under developed and didn't provide enough oxygen to the liver. you can see the mother mei xiang is slowly returning to normal behavior. >>> ucsf releasing video commemorating national coming out day. part of the it gets bette

new data was out today very good news for the president for the economy that's lowest levels of foreclosure filings since july of two thousand and seven but the. the fourteen million plus vacant in the band in the homes is absolutely the thing we need to deal with next but i look at it as an opportunity not just as a problem all right and what do you think is this an opportunity to jump in and do something with these millions of empty homes or at all there's something that the federal government should be doing these homes as a matter of fact i think the biggest thing we can do is we can pull back policies both in the treasury department with how they're running fannie mae and freddie mac. as well is the federal reserve's policies which are sort of propping up housing prices so we can actually lower housing prices in this country everybody seems to want housing prices to go up as if somehow that makes them more affordable what makes a product more affordable is if you have lower price and so you're one of the reasons why you have all these vacant homes that aren't even on the market creatin

>> the foreclosures in the houses. >> foreclosures? >> yes. >> today, nevada is suffering through high levels of foreclosures and 12% unemployment with the latino community especially hard hit. a poll shows three quarters of latinos are more concerned about the economy than immigration policy. >> since most of the people work in the casino industry and the tourism industry, if those industries are not making money they lay people off. thaerz the first line of workers that get laid off when times are hard. so when these people get laid off, they can't pay their bills. when they can't pay their bills, they lose their home. so we have a lot of work to do. >> these are problems plaguing latinos across the country, problems latinos look to the politicians to solve, but is either party really listening? ahead -- >> ruban running for congress. >> his quest to become the first latino running for congress. to . to . today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to

-- which really protects a lot of people from the worst parts of foreclosure. the grass-roots movement is ready to explode, and i think that you are right that the obama administration may or may not welcome that, but it does not matter. if it happens, they will be held accountable, and i think that is a good thing, and that is what the history of the 20th century teaches us. tavis: just looking at the cover of the book, for get cracking a book, just looking at the cover, some of the greatest -- forget cracking the book, just looking at the cover, some of the greatest americans and the issues that they fought for and the game that they won, they haven't benefited all americans. -- they have benefited all americans. i am not naÏve in asking this question, but why is it that those on the right do not understand that when there is a push for this kind of social justice, we all win? >> it turns out in 1911, the first socialist congress, one man introduced the first social security bill. at the time, people thought that was a radical idea, a socialist idea, and then

. >> the number of homes that received some sort of foreclosure notice dropped sharply last month. september marked a five-year low with slightly more than 180,000 properties receiving a foreclosure filing. that's 15% less than a year ago. california remains the state with the second largest number of foreclosures. >>> the labor department had better-than-expected news. the number the new claims dropped to its lowest level in more than four years. 300,000 filed for benefits. that's down 30,000. >>> walmart workers are threatening to go on strike during one of the busiest shopping days of the year if walmart does not improve their working conditions. workers warn they could hold strikes or protests on the day after thanksgiving, when people -- when many people wait outside doors trying to get holiday deals. >>> he'll be spending the rest of his life in prison. now jerry sanduskt is facing a financial hit in the wake of his conviction on molestation charges. >>> will we see more showers in the forecast? mark tamayo will be here to tell us what's in store for the weekend. >>> and last

california foreclosure are now at the lowest level since 2007. 5-3 5-31,000 foreclosure in third quarter of this year. that's down 13 percent compared to last year. california saw 45 percent decline in foreclosure over the last year that's the biggest did he children in the nation. >> to southern california now where the space shuttle endeavor getting ready for the final trip this will take it 12 miles down the road to museum in los angeles. this is a live picture of a shuttle white is being held in los angeles. shuttle has sat there for 3 week at the los angeles international airport in this hangar. before dawn hits the shuttle again the very complicated and slow move through the streets. streets will be closed. whole bunch of tree cut did you know and power lines have been removed or raised in some cases. the trip is expected to take two days. what an operation that is. >> my goodness what a sight that will be. a lot of rain in southern california this morning. we had a little bit here as well. >> a little bit. spencer tracks it for us and here with the latest forecast. >> soggy day an

foreclosure filings on u.s. month of september fell to their lowest in five years as you mentioned. some states are seeing their foreclosures rise, but we're talking about the overall decrease here which puts the combined number of, for example, reports of default notices, scheduled auctions, bank repossessions, all those things at the lowest total since july 2007. it's also 7% less than august's rate and down 16% from september 2011. all that together means realty trac at least says we are past the worst of the foreclosure crisis. before we get excited, though, one caveat. and that is it is taking longer to foreclose. the process is getting longer. which automatically reduces the foreclosure numbers. so where he have to be careful with this one. >> mandy drury, thank you. >>> employees sometimes really do say the darnedest things. careerbuilder.com is out with its list of real excuses folks have used recently to call out si sick. here's a few. i'm too upset to come to woman after watching the hunger games. my d

. >>> foreclosure filings hit five year low report released this morning shows foreclosures are downationwide an average of almost 7% over last month and down 13% from a year ago. the report shows foreclosure properties are selling at higher prices 12% more on average. >>> searchers in miami expect the death toll to climb to four after massive parking collapse at a miami college a third person died hours after rescuers pulled him from the concrete. authorities expect to find a fourth body of a worker who has been missing since yesterday's collapse. the ceo of the company said there was no warning that anything was wrong. >>> new information on what caused tragic death of newborn giant panda at national zoo in washington. the cub was born last month to a lot of fanfare and joy but it died six days later. a necropsy blames a liver problem. the panda's lungs were under developed and didn't provide enough oxygen to the liver. you can see the mother mei xiang is slowly returning to normal behavior. >>> ucsf releasing video commemorating national coming out day. part of the it gets better

they see the anguish caused by 20,000 foreclosures and counting in prince william county with thousands of others barely hanging onto their homes. he saw his parents nearly lose the family home after his father lost his job. >> my father had to go through sleepless nights. my mother, the same. >> v.o.i.c.e. has been trying to hold banks' feet to the fire in their role demanding relief required under a $25 billion national mortgage settlement signed by five major banks. >> it's awful hard to turn down religious leaders when they ask us to answer this call. >> in a church packed to capacity, several hundred county residents heard personal stories of pain. >> as the housie ining market b to crash, my husband god laid off. >> my monthly payment went from 2,900 to $1,223 per month. >> and promises of additional help from financial institutions like bank of america, committing tonight to a $5 million investment in affordable housing units for the county. >> we have made that $5 million commitment. we look forward to launching it as soon as we possibly can. >> reporter: jim rosenfield, news 4.

foreclosure rates reached a five-year low in september. that means fewer families were forced to leave their homes. realty track reports it is the second straight month of declines in foreclosure filings and the number of homes entering those foreclosure processes are at the lowest level since late 2007. >>> four children and their grandmother are dead after a row house fire in baltimore. the victims included a 2-year- old, her 4-year-old brother. they were all in one bedroom and their grandmother nancy worrell was screaming for help from the window. >> they said she was asking for help and when she come back around, the fire was just on her. >> it's terrible. >> and it hurt right here. it hurt. >> two firefighters were also injured. the family says nancy worrell allowed as many of her 19 children as well as her grandchildren to stay in the house at any time. >>> underdeveloped lungs and liver probms killed the baby panda born last month at the national zoo. the zoo released the results of the panda's necropsy today. the chief veterinarian

california foreclosure are now at the lowest level since 2007. 5-3 5-31,000 foreclosure in third quarterthis year. that's down 13 percent compared to last year. california saw 45 percent decline in foreclosure over the last year that's the biggest did he children in the nation. >> to southern california now where the space shuttle endeavor getting ready for the final trip this will take it 12 miles down the road to museum in los angeles. this is a live picture of a shuttle white is being held in los angeles. shuttle has sat there for 3 week at the los angeles international airport in this hangar. before dawn hits the shuttle again the very complicated and slow move through the streets. streets will be closed. whole bunch of tree cut did you know and power lines have been removed or raised in some cases. the trip is expected to take two days. what an operation that is. >> my goodness what a sight that will be. a lot of rain in southern california this morning. we had a little bit here as well. >> a little bit. spencer tracks it for us and here with the latest forecast. >> soggy day and ev

people are getting checks in the mail. >> foreclosure review is involved to anyone involved in the foreclosurecess between january 1st, twine, and december 31st, 2010. >> we would rather people come forward and help us sort out if they can apply or not. >> if someone tries to charge you for help, it's likely a scam. >> believe it or not, there are scammers out there who are copying the procedures that the inis the review process. >> we were really at a point of tiers, and their times just took advantage of our depression. they said unpack your stuff, you will have your home. >> the williams sent a cashier's check for $1500 and received nothing in return. now they're counting down the days until they have to leave their home. >> we're good tax paying people, and we do need someone to be about what happens to us. >> the williams case is still pending. for a list of hud approved housing counselling services and more information on the independent review, go to our website and search foreclosure help. >> the "today" show is next, let's get a preview. >> good morning, lester. >> good morning, we're

foreclosure crise. and then the second part is we need not to ignore that the housing market needs to be rebuilt. the secondary market needs to be restructured. and we need to dive into that conversation and rebuild it so that people who are eligible for home ownership right now actually can access the system, which millions can't do now. >> brown: i assume parent of the politics here is one of these issues has been with us for years, which is the degree to which individuals are responsible for their own problem. and, therefore, to what extent the government-- or the rest of us-- should be helping them, people who might have borrowed too much. >> the economist in me is if you want to grow family wealth and income over the long run, the way to do it is you have to make labor more productive. that's what drives wages and income. i worry that we got a series of essentially asset bubbles. we ran up house prices and now the feds and others are trying to run up stock prices. house prices don't make anybody mo

some new foreclosure numbers show filings hit a five-year low.ut the story is within the story, and that is the shift in where those foreclosures are happening and what it means for all of those investors hoping to cash in on those distressed properties. cnbc's diana olick has been looking at those numbers and the map for us as well. hi, diana. >> hey, sue. it is a shift investors should pay serious attention to because folks, your profit center is moving east. some of the formally hardest hit states are going up, squeezing those investor margins. foreclosure filings in q 3 are down dramatically in california, arizona, michigan and georgia. these are states where foreclosures don't need to go before a judge so they've been moving very quickly and investors have been inhaling them, pushing prices higher. buying in to price recovery -- well, not so profitable anymore. but, on the flip side, you're going to get better deals and bigger profits in states that are seeing foreclosure spikes. states where you need the judge and where huge backlogs are no

california foreclosure are now at the lowest level since 2007. 5-3 5-31,000 foreclosure in third quartercompared to last year. california saw 45 percent decline in foreclosure over the last year that's the biggest did he children in the nation. >> to southern california now where the space shuttle endeavor getting ready for the final trip this will take it 12 miles down the road to museum in los angeles. this is a live picture of a shuttle white is being held in los angeles. shuttle has sat there for 3 week at the los angeles international airport in this hangar. before dawn hits the shuttle again the very complicated and slow move through the streets. streets will be closed. whole bunch of tree cut did you know and power lines have been removed or raised in some cases. the trip is expected to take two days. what an operation that is. >> my goodness what a sight that will be. a lot of rain in southern california this morning. we had a little bit here as well. >> a little bit. spencer tracks it for us and here with the latest forecast. >> soggy day and evening in hd we have extensive at l

on "news 4 today," how a northern virginia church is leading the way to help those affected by foreclosure.

their goal, to hold banks' feet to the fire in the hopes of getting a piece of a $25 billion foreclosure settlement. the crowd got a surprise from bank of america, a $5 million investment into affordable housing in the community. >> we made that $5 million commitment, and we look forward to launching it as soon as we can. >> it's awful hard to turn down priests, ministers, rabbis, and other religious leaders when when they ask us to answer this call. >> there are 20,000 foreclosures and counting in the county. voice hopes to eventually secure between $300 million and $500 million to help those affected. >>> the nation's largest public university officially has a new president. javier miatas has been named president of the university of maryland university college. he's been serving as acting president since february when the previous president, susan aldridge was placed on leave. she resigned in march for reasons still unknown. umc specializes in online education for many students, half ofitary members and their families. >> little warm out? >> tell us what you got there, buddy. >> guess

>> the economy, foreclosures on the houses? >> foreclosures? >> yeah. >> reporter: today, nevada is suffering through high levels of foreclosures, 12% unemployment, with the latino community especially hard hit. a recent cnn/orc poll shows three-quarters of latinos are more concerned about the economy than immigration policy. >> since most of these people work in the casino industry and the tourism industry, if the casino and the tourism industry is not making money, they lay people off. so, thighs are the first line of workers who get laid off when times are hard some, when these people get laid off, they can't pay their bills. when they can't pay their bills, they lose their home. so, we have a lot of work to do. >> reporter: these are problems plaguing latinos across the country, problems latinos look to their politicians to solve. but is either party really listening? >> how you doing, sir? >> reporter: ahead -- >> ruben key win, running for u.s. congress. >> reporter: ruben's quest to become nevada's first ever latino congressman. >> i'm r

short sales surpassed foreclosures last year. the treasury's home affordable foreclosure alternative program has so far paid out $333 million for short sales to banks and bar rowers. that's part of the $10 billion set aside for the much larger loan modification settlement. but the signing earlier this year also pushes short sales. under that, the banks have forgiven $8.67 billion in mortgage debt. that debt forgiveness is tax free. again, thanks to congress passing a tax relief act on short sales back in 2007. a congressional committee estimates that will cost close to $1 billion in lost revenue to the government. now, given that relief and the fact that banks are really pushing these short sales and doing themselves, the question is, do we really need government to keep funding these short sales, maria? >> diana, these are the questions we'll keep following. thanks so much. they ask, should the government get out of the housing business altogether? rick santelli thinks so. jason says this isn't the time to kill these programs. r

foreclosures cet inventory and share of distress sales nationwide. and found 65 percent of the county's are worse than four years ago. gerri: so it is not just one thing? that is surprising. how can the results be so different with housing starts, homebuilder sentiment, price of existing homes, where is the disconnect? >> there are signs of life shorterm over the last year. home prices and housing starts and even foreclosures have been down at the five-year low. but looking back now vs. four years ago, long term we are noout of whole or as far as 2008 beore the last presidential election. gerri: wow!. that is a shcker. yodid your homework. but the details is different markets. help usunderstand. >> again this is long term but compared to four years ago, 35% of the county' better doing better. it boils down to how they can respond to falling home prices and rising foreclosures. coastal california, orange county, san diego is better off. even wayne county in detroit has responded instead of delaying foreclosures tey have allowed them to be processed an