Wayne County runs ads in paper showing foreclosures in Detroit and other Detroit suburbs inside the county. This is before the Big Three go under.

A federal report just came out that more people are late on their home mortgage payments and face default. Conveniently, these people do not qualify for help from the federal government. Sawsan Zaky says that not many people are able to modify their loan even though the banks are saying they would like to work with people who are close to default.

Foreclosure Angel A woman buys a stranger’s foreclosed home… and gives it back to her. If you want to know more about this angel contact her on facebook and send her a message here: www.facebook.com Marilyn Mock Says ‘People Need to Help Each Other’ By JONANN BRADY Tracy Pottsboro lost her job and then her home when she couldn’t make mortgage payments. On Saturday, she watched as her home was auctioned off in Dallas. “The final farewell to my house,” Pottsboro said. “It means so much to all of us. It’s not just a house.” Auctions on foreclosed houses are an opportunity for some and agony for those who’ve lost their homes. From July through September of this year, more than 2700 Americans lost their homes to foreclosure every day, according to The Associated Press. In Texas, almost 9200 homes entered the foreclosure process in September. On Saturday, Pottsboro took her seat among the crowd, waiting for house No. 73 to be called. Marilyn Mock, a small-business owner from Rockwall, Texas, had accompanied her son, who was interested in buying a house, to the auction that day. Mock was sitting near Pottsboro and noticed that she was upset. “She was crying, and I asked her what is she upset about, and you know, she lost her house,” Mock said. When the No. 73 came up and the auction began, Mock said she asked Pottsboro, “Is it worth it?” “She said yes. & I just kept taking her word,” Mock said. Mock ended up winning the auction, with a bid of about 000. And just like that …

People in Riverside, California have stopped using electricity and other utilities because they can’t afford the skyrocketing prices. Banks are taking the homes off of the market and then not putting them into their inventory, making it tougher on the people trying to afford their mortgages. According to our guest George Hemminger, 25% of the people in Riverside are squatting in their own houses.

The number of home foreclosure filings jumped by nearly 20 percent during the first quarter of 2010. Anthony Mason reports on this new wave of bank repossessions and its overall effect on the US economy.