NEW YORK (CNNMoney.com) -- The usual suspects led the list of top cities for foreclosure filings during the last three months.
Cities in four states -- California, Florida, Nevada, and Arizona -- accounted for the 13 hardest hit areas, according to foreclosure marketer RealtyTrac, which released its third quarter report on Thursday.
Las Vegas was far and away the hardest hit metro area. One out of every 25 housing units -- more than 32,000 homes -- attracted some kind of foreclosure filing, including notices of default, auction notices and repossessions.
Cape Coral, Fla., had the second highest foreclosure rate, with one in 35 homes getting hit with a filing. It was trailed by three Central Valley California cities: Modesto (one in 36), Stockton (one in 39) and Merced (one in 40).
The main causes of foreclosure are high unemployment, underemployment, toxic loans and negative equity, and "these historically high foreclosure rates will continue until those problems are resolved," said James Saccacio, RealtyTrac's CEO.
Several metro areas experienced significant increases in already substantial foreclosure numbers. Filings almost doubled in the Riverside-San Bernardino area compared with three months earlier, to nearly 36,000 properties.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.45%||4.43%|
|15 yr fixed||3.89%||3.89%|
|30 yr refi||4.44%||4.43%|
|15 yr refi||3.87%||3.87%|
Today's featured rates:
One of the world's leading smartphone makers is aiming for the biggest stock market listing in nearly two years. More
If Trump puts tariffs on European cars, it would hurt automakers who build a lot of cars in the United States. More
Russian trolls posing as an American college student tweeted about divisive social, political and cultural issues using an account that amassed thousands of followers -- and appeared in dozens of news stories published by major media outlets -- as recently as March. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
If you find yourself in a love-hate relationship with money, here's how to get back on track. More