Las Vegas Leads Nation With Most Foreclosure Filings of 2009

Many people are well aware at the fact that foreclosure is a common event to happen in the financial crisis the US is currently facing. So it is no surprise when you hear that major cities around the nation are being dominated by foreclosure filings. With Nevada, California, Florida, and Arizona having the most hard-hit metropolitan areas in the country.

According to RealtyTrac, Las Vegas had the most amount of foreclosure filings in 2009, about twelve percent of households received at least one foreclosure notice during the year. This figure is about five times the countries average. The city that holds second place for the most foreclosure filings is Cape Coral, Fl with 11.9% of households receiving at least one notice, and Merced, CA in third place with 10.1%.

But now the foreclosure crisis is moving to other areas around the nation that have not yet been affected by the nation’s financial struggles. According to RealtyTrac, the amount of foreclosures in 2009 rose an astonishing 21.2% from the previous year.

Topping off 2009 with about three million borrowers that have received a foreclosure notice, setting a new record high for the amount of people failing to make their monthly payments. In 2010, Las Vegas will most likely see more foreclosures and misery as sin city becomes the foreclosure capital of the world.