Foreclosure rates across the country rose dramatically in 2009. Nevada, Florida, California & Arizona were particularly hard hit. Las Vegas topped the ranks in filings with 12%  of households affected, 5 times the national average.

On the bright side, all top 20 cities affected recorded a decline in foreclosure filings within the last three months of 2009. These trouble spots tend to be “bubble” related. In these areas, inflated home prices drove home buyers to take on high risk adjustable rate mortgages. When the market deflated, borrowers began to default on their loans.

The most recent wave of bank home foreclosures can be blamed on more traditional causes linked to an economic slowdown and high unemployment figures.

New York has been one of the states least affected by foreclosures with a mere .63% filing rate.  The bubble related affect was minimal compared to harder hit areas of the country. In addition, the Capital Region’s workforce remains stable with comparatively low unemployment figures supported by state jobs, higher education and technological opportunities.

Check the foreclosure rate in your state