(Irvine, CA) — For the fifth straight year, Nevada leads the nation in foreclosure rates. RealtyTrac reports one out of 16 Nevada homes had at least one foreclosure filing in 2011, despite a 31% drop in foreclosure activity from 2010. That was due to a new law requiring lenders to file additional paperwork. Arizona was second, followed by California, Georgia and Utah. Among metro areas, Las Vegas topped the list in 2011, with Reno coming in at number eight. Ten out of the top 20 metro areas for foreclosures were in California cities.
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