Foreclosures

Minneapolis is one of several cities that have filed lawsuits against mortgage companies, seeking damages for the blight caused by the large number of foreclosures in some of its neighborhoods.

The Federal Reserve has announced plans to help community non-profits to acquire foreclosed homes for use as affordable housing.

The latest figures show that more than 500 California households have gone into foreclosure each day in the first quarter of 2008.

Without a clear federal plan to counteract the swath of foreclosures sweeping across the country, state governments are finding ways to reduce the local impacts.

A HUD plan that allows municipalities to buy up foreclosed homes for just $1 is causing controversy in Wayne County, Michigan, where cities and counties are fighting over who is best suited to take over abandoned homes.

California's redevelopment agencies are feeling pressure on numerous fronts these days. Some may go out of business next year. Still, state lawmakers are considering giving the agencies authority to buy out subprime mortgages.

A new plan in the Senate looks to help the country deal with the backlash of the housing crisis by offering tax breaks and credit. But will it help people whose homes have been foreclosed?