Foreclosures: Salt Lake City Hardest Hit in Mortgage Crisis

When it comes to foreclosures, Salt Lake City is the worst of the worst.

The metro area had the largest percentage increase in foreclosure filings the past year among more than 50 communities hardest hit by the nation's foreclosure crisis, a new report shows.

Owners of 5,155 local properties received a foreclosure-related notice in the first quarter, 101 percent higher than the same period in 2009, according to RealtyTrac, a company that tracks foreclosures nationally. In the U.S., foreclosure filings rose only 16 percent. Many of the other metro areas with high levels of distressed properties actually saw their foreclosure rates fall from the super-high levels of last year.

As for the rate of foreclosures-related filings, one in every 77 of all housing units in the Salt Lake area, or 1.3 percent, received a notice in the first three months of the year, RealtyTrac said. That's the 35th-highest rate of filings among all 206 metro areas in the RealtyTrac report, up from No. 62 in the first quarter 2009 and No. 107 in the first quarter 2008.

To read entire article click here: Foreclosures: Salt Lake hardest hit in mortgage crisis...