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Fighting foreclosures in Nevada

Of course, the jobs crisis goes hand-in-hand with the housing crisis. Many economists believe you can’t solve one without fixing the other. There is no place where that is more apparent than in Nevada, scene of this weekend’s Republican presidential caucus.

Nevada has higher unemployment than any other state – and, probably not coincidentally, has had the highest foreclosure rate for five years. Last fall, the Republican frontrunner, Mitt Romney told a Las Vegas newspaper: “Don’t try to stop the foreclosure process. Let it run its course and hit the bottom.”

The Obama administration has taken a more activist approach, proposing a series of steps to try to limit foreclosures. But how well have they worked?

Recently, with the help of our partner, ProPublica, Need to Know traveled to Las Vegas to see if the administration’s initiatives have helped keep people in their homes.

Megan Thompson reports.

Related:

The foreclosure crisis [ProPublica]
Big fish, little fish‘: Why the executives behind the financial crisis aren’t facing jail time