again for alabama s most populace county. jefferson county commissioners voted to make a move after failing to renegotiate its $4.1 million debt. and more red flags in the housing market as foreclosure activity has hit a seven-month high. more than 230,000 home own rs have received warnings in october. notices of default and bank repossessions are on the rise as well. diana oleic joins me now. we re facing this historic kriss and reading your blog, you are not at all impressed by the republican candidates in their responses to the housing crisis. absolutely not. simply because they did not have a response to the housing crisis. the best they could say is that we needed to get jobs goimpk again, but several came out saying we have to take fannie mae and freddie mac down immediately. they are the only ones supporting the housing and
very clear, diana, that the policies he s talking about came after the housing crisis hit the wall. yeah, it did. and no one s going to say that the obama administration housing policies have really helped all that much. they ve done some modification, they ve lowered rates to historic lows, but talking about a new program for underwater borrowers. 6 million borrows were either behind on their payments or in the foreclosure process. it s just going to put additional pressure on home prices. or as romney said, you have to let it all work through the system and there some out there who say that s the only thing we can do is let it all happen. let it go through. get homeowners back in this who can afford the mortgages and we will see housing recover slowly. that s tough sell politically in an election year. absolutely. thank you very much. and be sure to check diana s
under pressure to pay up for the foreclosure fiasco. they are washington now negotiating a settlement, but people who have lost their homes or about to, say that s not nearly enough. diana oleic covers housing for cnbc, so where do we stand? well, right now, the 50-state attorneys general will be presented with a document this afternoon by iowa s state attorney general, outlining how they d like to see changes in the pross that started with the whole robo signing scandal last fall. now, there is no dollar figure on this potential settlement, but there will obviously be one at some point. there s been talk of a $20 billion fund that banks would have to pay into where they would have to lower mortgage princip principle. plenty of protesters today demanding a strong settlement
i m diana oleic. a modest sell off picking up speed toward the close. the dow jones industrial falling 48 points, nasdaq getting ten points. investors re-grouping after gains last week, but a busy monday suggests companies are seeking value in the market. southwest is buying airtran for nearly $1.5 million. multinational firm is buying hair care group for more than $3.5 billion in cash. coca-cola won approval walmart is in talks to buy mass mart for 4 billion.