Defaults in Lehigh Acres have increased from 3,259 on July 10 to 9,457 today, according to RealtyTrac, an Internet firm that follows listings of foreclosures across the nation.

Some 17,978 homes are in some status of pre-foreclosure and Sheriff sales have increased from 1,367 to 4,888 in the last week.

Karen Weaver, global head of securitization research at Deutsche Bank AG said in the Wall Street Journal today that “the steepest losses are on subprime loans, where lenders generally are recovering just 26 percent of the original amount.”

For example, a home in Lehigh with a $100,000 mortgage is now selling for $26,000. A sign outside a real estate office in Lehigh Acres advertises: “Foreclosures from $25,000.” Other signs convey the same message throughout the community.

Holders of sub prime mortgage bonds have flooded the market with foreclosed homes.

The Wall Street Journal also reported that data “in the Atlanta area shows that trusts managing pools of securitized mortgages sold six times as many properties as banks during the six months ending March 31.