U.S. News

Betting The House

By CNBC.com Staff

Nevada, Colorado. Florida.

They're all among the top states in home foreclosure rates.

The subprime lending mess is causing a spike in foreclosures, which are up 12% from a year ago, according to RealtyTrac.

In terms of total forecosures, Texas ranks among the top. And we're no talking about bungalows or small houses. Many of the properties at an auction Diana Olick attended in Dallas, Texas cost between $150,000 and $400,000. And as Olick reports, for every broken dream there is a golden opportunity.