The Capitol Times reports from Wisconsin. "Wisconsin ranked 29th nationally in foreclosure rates in November, after ranking 35th in October and 37th in September, RealtyTrac reported."

"The state had 881 properties in some state of foreclosure in November, one for every 2,614 households. In October, the state had 679 such properties, or one for every 3,391 households. In September, the state had such 498 properties, or one for every 4,624 households."

The Kansas City Business Journal from Missouri. "A Kansas City man was sentenced Monday to two years in federal prison and ordered to pay more than $6 million in restitution for his role in a mortgage fraud conspiracy."

"Phillip Thomas was a real estate appraiser doing business in Kansas City and Lee's Summit, U.S. Attorney Bradley Schlozman said. Thomas performed appraisals for Ameriquest Mortgage in Gladstone and Countrywide Home Loans, which also did business as America's Wholesale Lender, as well as other mortgage companies, lenders and brokers."

"Thomas pleaded guilty April 27, 2005, to three charges, including conspiring to fraudulently obtain about 177 loans on properties connected to co-conspirators in the amount of more than $12 million in Kansas City and Lee's Summit."

"The loans were obtained by preparing fraudulent loan applications and supporting documentation for submission to the mortgage companies in the names of the victims. The fraudulent information included false and inflated appraisals. That false information was submitted to the mortgage companies, which would, as a result, approve the respective loans."

St Louis Today from Missouri. "Ten months ago Floyd Irons bought three houses over five days in January. Total cost: About $1.5 million. The purchases have puzzled real estate agents and neighbors alike. Why did the homes cost so much? And how could a public school coach making $90,000 a year afford roughly $120,000 in yearly mortgage payments?"

"It turns out he can't. All three houses have gone into foreclosure. Irons says the bank has taken them back. Two sit vacant. Residents of the third are preparing to be evicted."

"He said he had bought the homes to pad his retirement but referred more detailed questions to a man he called his business partner. Mike Noll, a local real estate investor, said he had advised Irons on these purchases, and, in the end, they simply had turned out to be bad business decisions."

"On Jan. 31, Irons bought 11 Arundel Place in St. Louis, on the border with Clayton, for $830,000. Thomas Kowalsky said he hadn't asked for that sum, the mortgage brokers came to him with the price. He bought it for $240,000 in 1998, according to city records."

"It was this last house that caught the attention of neighbors and real estate brokers. Many privately pointed out the cracking stairs, the rusting railings and the broken windows. They said Irons had paid double what he should have."

"Noll agreed that Irons may have paid too much for the house on Arundel. Noll said he simply didn't know the residential market, despite directing the city of St. Louis' residential development program in the '80s, and trusted the brokerage. Now he blames them."

"Pete Esson and Matt McClure, who run Midwest Mortgage Consultants as well as related real estate and closing companies, said they didn't remember ever calling Noll. They acknowledged that Irons had used their companies to close the deals, but said they didn't do the appraisals of the homes, don't have a personal involvement in the transactions, and don't know Noll or Irons."

"But housing deeds show Esson's and McClure's companies have worked with Irons and Noll on several other occasions."

"Irons borrowed almost 100 percent of the money he needed to buy the buildings, and Noll said he 'legitimately' qualified for the loans."

"Irons tried to sell the houses on Arundel and Woodland Meadows. But Noll said buyers weren't interested. Now the homes sit in disarray. Broken windows and rusting railings greet potential buyers on Arundel. Leaves pile up in doors and walkways at the home in Wildwood."

"The four-plex on Michigan is still occupied. Linda Greco says the house is falling apart. The bank that bought the house at auction now has filed suit against Irons and his former tenants. It wants them out."

"Irons said that maybe, he just didn't scrutinize his investments as well as he should have. 'I got into a situation, that, you know, hey, bad investment,' he said. 'I have to deal with that. I'm a big boy.'"