The federal housing finance agency oversees Freddie Mac and Fannie Mae corporations. Homeowners financed through Freddie and Fannie saw a drop in home prices by 6.5 percent in February. However, there was an increase of almost 1 percent from the month to month figures from January to February. The year over year there was an increase.

In California there was an increase of 4 percent in prices from January to February which counted only loans conformed (that followed the GSE guidelines) by Fannie and Freddie. This means all other loans were not included in the numbers making the majority counted out. Some of the worst numbers of foreclosures were seen in Las Vegas with nearly 5 percent of the homes in foreclosure, Merced with more than 4 percent in foreclosure, and For Myers with almost 4 percent of the homes in foreclosure.

Boise, Idaho found themselves in the top 50 cities with the most foreclosures. This city managed to keep out of the foreclosure problem, but with the increasing job losses, many homeowners ended up in foreclosure. The same happened to Atlanta, Georgia and Charleston, North Carolina. The country has seen more than 1.5 million jobs lost which foresees about 250,000 more foreclosures will occur. It is estimated that for every 6 to 10 jobs lost there is one new foreclosure.