Pres. Obama's foreclosure plan may be too little, too late

12:37 PM, Nov 1, 2011   |    comments
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UNDATED (CBS) - President Obama is trying to ramp up his proposals to help homeowners stay afloat. But in some of the nation's political battlegrounds, it may be too little too late.

Sixty percent of Las Vegas homeowners are "under water" or own more than their house is worth like Sia Howe who had to sell her $380,000 home for $165,000 after she lost her job.

How is back to work as a broker, living in a rental house she shares with a roommate. She's looking for solutions, not political pandering. She says, "People in my circle we're extremely unhappy with the ways are going, many different facets in the White House."

In 2008 President Obama won Nevada by a 12 percentage point margin but with the highest foreclosure rate in the country and unemployment above 13 percent all bets are off in 2012. Political analyst Jon Ralston says, "The key in this state is the independent vote, it's almost a fifth of the vote, and independents have turned very sour on this president and the Dem agenda."

Analysts are seeing a similar sentiment in other swing states. Florida, Arizona, Ohio and Michigan are all hard-hit in the foreclosure crisis. Along with Nevada, those five states add up to 80 of the 270 electoral votes needed to win the presidency. Ralston says, "Nevada is the crucible I think for this election because of unemployment because of foreclosure and because we're such a melting pot here in southern Nevada."

In Nevada, one in every 118 homes received a foreclosure filing in August. Sia says, "I do not know anyone who has not been affected."

And to get Sia Howe's vote someone needs to hammer out a better housing plan.