can i quote you? sure. chad myers, thanks. now, should you put out your for sale sign or just sit tight? allan chernoff has that special next. the foreclosure crisis far from over. just ask anyone who can t pay their mortgage. number five, you have miami, number four, los angeles, chicago, number three. what are those top two that break out? the only hint that i m going to give you is this. they are both cities in the west. you have a guess, mr. myers? i have a guess. we ll be right back. netwo. we re adding new cell sites. increasing network capacity, and investing billions of dollars to improve your wireless network experience. from a single phone call to the most advanced data download, we re covering more people
location, location, may not have as much bearings these days. now the price that you set is more important than ever. here is cnn s allan chernoff. reporter: linda s charming maplewood, new jersey home has a beautiful kitchen and renovated bedrooms and bathrooms. but when she put it on the market at 549,000, she had no buyers. they showed the home 16 times. what to do? linda divorced mother of two grown children looking to downsize didn t hesitate. she lowered her asking price by $20,000. are you confident that it s going to go at this price? no, not really, because of what the market is now. reporter: the market in much of the country remains sluggish. linda, a former realtor herself understands that she needs to be flexible. she followed carol s advice to
going to start holding servicers accountable with penalties and withholding payments if they don t comply with the terms of their agreement. nothing followed. reporter: while barofsky blames the treasury department, secretary tim geithner points a finger at the mortgage companies. they are not putting enough resources in this effort, they are in the doing a good enough jobs of helping homeowners navigate through a very complicated and difficult process. they have to do a better job. brianna keilar reporting. right now, more than 1.8 million homes are in foreclosure, and every homeowner is feeling the effects. with home values continuing to slide, some experts predict the housing market will not hit bottom before next year. and that makes some agonizing decisions for homeowners. do they stay put or do they sell now? cnn s allan chernoff takes a closer look. checking our top stories now.
joe johns, have a great rest of the weekend and safe travels. you, too. on this memorial day, i want to begin on cordova, alabama. it hit on the morning of april 27th by a powerful ef-3 tornado, and then the very same day ef-4 tornado hits that same town that night. cordova, alabama, is not the town that you see here in some of the video, some of the aerial pictures here and satellite images. a lot of folks have certainly lost their homes, but as we told you on friday, the cordova mayor jack scott is invoking a ordinance that rejects any trailer which is being offered by the federal government to folks whose homes have been destroyed. and jack scott is saying emergency or not, the law is the law. and as we showed you on friday, none of the folks in cordova are none too thrilled about the 50-year-old ordinance. we will talk to some folks live in a moment, but first, listen to this. what i suggested is putting the fema trailers in my backyard, because of the mayor, we wan
development of alternative fuels. his warning to arab oil producer comes amid a chilling prediction. goldman sachs says gas will reach $5 a gallon this summer. and remembering the sacrifice s at arlington nationl cemetery. this morning, president obama takes part in ceremonies there, including a wreath-laying ceremony at the tomb of the unknowns. let s talk politics now. presidential candidates, those who have declared, and those likely to, are reaching out to voters on this memorial day. oh, yeah, sarah palin is using the holiday to kick off her nationwide bus tour. she rode into washington sunday on the back of a motorcycle for the annual rolling thunder event. after a couple of stops in d.c. today, palin s one nation tour heads to gettysburg, pennsylvania. that s where our jim acosta is. jim, tell us more. good morning, carol, that s right. sarah palin will be out here later today, so we re told, and this is all part of a campaign-style swing up the east coast. she s