HousingWire reports:
Higher-priced houses are taking a greater share of foreclosure activity, with houses priced in the top tier accounting for nearly one-third of all foreclosures in July 2009, according to new data from Zillow.com.
“Top-tier” homes in terms of local values accounted for 30% of foreclosures in the month.
Houses in the bottom third and middle third [...]

From Business Journal:
“Nearly 23 percent of residential loans in Florida were delinquent or in foreclosure in the second quarter, according to a survey by the Mortgage Bankers Association.
Florida has the highest rate in the nation, followed by Nevada, Arizona and Michigan.”
That’s fairly close to one out of four properties and it makes me think Florida [...]

From WaPo
“Policymakers often say it’s a good deal for lenders to cut borrowers a break on mortgage payments to keep them in their homes. But, according to researchers and industry experts, foreclosing can be more profitable.
The problem is that modifying mortgages is profitable to banks for only one set of distressed borrowers, while lenders are [...]

Home prices throughout California and in the Las Vegas area fell from a year earlier in May as a glut of foreclosed property pushed down the value of single- family houses and condominiums.
The median price for an existing, single-family detached house in California declined 30 percent to $267,570, the California Association of Realtors said today [...]