Mitt Romney hits Newt Gingrich's Freddie Mac work in the foreclosure capital Nevada

Former Massachusetts governor Mitt Romney is looking beyond next week's Florida primary, releasing an ad (shown left) attacking rival Newt Gingrich for his work as in adviser to mortgage finance giant Freddie Mac in Nevada, home to the highest foreclosure rate in the country.

Nevada's caucus is scheduled for Saturday, February 4, the next contest after voters head to the polls in Florida Tuesday.

"While Nevada families lost everything in the housing crisis, Newt Gingrich cashed in," a serious, deep-voiced narrator says while a picture of Newt Gingrich appears on the screen.

Gingrich worked as adviser for Freddie Mac, the government sponsored mortgage entity that backs millions of American mortgages and was taken over by the Bush administration in late 2008 as losses from bad mortgages mounted.

"Gingrich was paid over $1.6 million by the scandal-ridden agency," the ad says.

According to industry data firm RealtyTrac, 1 out of 177 homes in Nevada were in some form of foreclosure in December.

Romney is well known in the Silver state because he won the Republican caucus in 2008 and enjoys the benefits of a large, politically active Mormon community. But the transient nature of the tourist-driven economy always makes winning elections more difficult there.

And Gingrich is working to play catch-up by dedicating financial resources and personnel.

Gingrich also has a major financial backer in Las Vegas; casino mogul Sheldon Adelson is his largest donor. He and his wife, Miriam, have infused a pro-Gingrich super PAC with $10 million this primary season, and with Nevada being Adelson's home turf, Gingrich could benefit.

Nevada has a strong libertarian streak which makes Rep. Ron Paul a strong contender there, too. Paul placed second behind Romney in 2008 and continues to garner strong support.

The state decides its nominee via caucus and distributes its delegates proportionally.