High-end home foreclosures on the rise

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More high-end homes began entering foreclosure toward the end of 2009 and the trend has continued through the beginning of 2010, according to CNBC. In February, 4,169 homes valued at $1 million or higher were in the foreclosure process, according to RealtyTrac, marking a 121 percent increase over the number seen during the same month a year earlier. Experts say that the delayed foreclosure trend among high-end homes is due to the fact that wealthier homeowners were able to stave off financial troubles longer. [CNBC]

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