New Foreclosures High in Swing States

Though the high unemployment rate dominates talk in Washington, for many 2012 voters the housing crisis may well be a more powerful manifestation of a sick economy. And, in an unfortunate twist for Obama, the problem is at its worst in many of the battleground states that will be decisive in determining whether he gets another term. Swing states Florida, Arizona, Nevada, Ohio and Michigan—they all pulse red-hot on a foreclosure rate "heat map." And by themselves those five add up to 80 of the 270 electoral votes needed to win the presidency. Mortgage default notices surged nationally last month. One in every 118 homes in Nevada received a foreclosure filing in August, according to the foreclosure listing firm RealtyTrac. One in 248 in Arizona. One in 349 in Michigan. One in 376 in Florida. And so on.

The Balance of this article By NANCY BENAC, Associated Press