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||3.64%||3.69%|
|15 yr fixed||2.76%||2.82%|
|30 yr refi||3.62%||3.72%|
|15 yr refi||2.78%||2.84%|
Today's featured rates:
Google executive Matt Brittin told the British parliament he doesn't know how much he gets paid. More
The Fed Chair was criticized on a range of issues, from China and monetary policy to black unemployment and the strong dollar. More
Twitter's stock is sinking fast after the company reported that it lost customers in the fourth quarter of 2015. More
The average price for domestic airfare dropped in the third quarter of 2015, and travel experts expect the trend to continue in 2016. More