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Most metros see jump in foreclosure activity

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Foreclosure activity increased in 65 percent of 206 metropolitan markets with populations of 200,000 or more in the third quarter, according to a report by foreclosure data aggregator RealtyTrac. RealtyTrac's Metropolitan Foreclosure Market Report tracks the number of properties in metro areas that receive at least one foreclosure filing (default notice, auction, or bank repossession) every quarter. California, Florida, Nevada and Arizona were home to 19 of the top 20 markets with the highest foreclosure rates in the nation during the third quarter. "The underlying problems that are causing homeowners to miss their mortgage payments -- high unemployment, underemployment, toxic loans and negative equity -- are continuing to plague most local housing markets," said James J. Saccacio, RealtyTrac's CEO, in a statement. "And these historically high foreclosure rates will continue until those problems are resolved." Las Vegas continued to post the nation's high...