North Carolina State House Speaker Joe Hackney is taking action. He is appointing a committee to study the foreclosures in North Carolina.  

The panel will have 20 members and are expected to issue a preliminary report at the next General Assembly session, with a final report at the end of 2008. 

They will look into the causes of the foreclosures and what the government can do to help prevent them. They will also investigate if and how the realty industry is adding to the current foreclosure problem.