we re spending all of this money on college education and people are finding their way. i want to be very clear about something. i think you need a college degree. you absolutely need a college degree. this report finds if you don t have a college degree you re being bumped out. the question is, how much are we borrowing for it, how much are we spending for it, and are we being very strategic in the degrees we re getting and finds our place in the workforce. it s interesting. what is the one thing we need to know about our money? interesting foreclosure numbers. 414 days from the first missed payment to finally getting a foreclosure taken back by the bank, and new numbers from realty track showing that the foreclosure process is speeding up a little bit. foreclosure backlog is getting cleared up. that s a good thing. you want to wipe some of these foreclosures where no one has been living in the house, it s just been eyesore. you want to get through those. the foreclosure pro
next year. but here s the thing, folks, both parties want this. they agree that there should be an extension of this tax holiday. the problem here is that house republicans refuse to settle for the two-month band aid, the two-month extension that has already been passed by the senate. listen. our house gop negotiators are here and ready to work with their counterparts in the senate. he s not lucy, i m not charlie brown. we re not falling for that football stunt, again. okay, lucy and charlie brown. that s what we ve come to now, kate. it can be silly season up there sometimes. but just getting more and more silly, it seems. so, is this just all for show and eventually what people want to know, whether or not this is going to get done, is it? well, it s a good question. right now there s no clear answer, to be quite honest, as it seems both sides at the moment are more dug in than ever before. as you said, the house rejected the senate compromise that two-month extension
homes. peter barnes from the fox business network. those are rough numbers. take us through them. banks have repossessed more than half a million homes in the first six months of this year. putting them on track to get the keys bang on a record 1 million homes. you can take a look at this chart and see how bad it s gotten just in the past couple of years here. now the ten states with the highest foreclosure rates are nevada, arizona, and florida. followed by california, utah, georgia, michigan, idaho, illinois, and colorado, shep. shepard: yet, the same tracking service says fewer people are falling behind on their mortgage payments. why are foreclosures surging? well, that s because last year a lot of banks began to freeze foreclosures as part of the government s foreclosure prevention plan. now those freezes are over. so there is a lot of property in foreclosure backlog. and the foreclosure rates could start to climb again in the second half if the economy and unemployment don