Utah Remains Among Highest In Surge Of Foreclosure Filings

The number of Utah households facing foreclosure jumped by 75 percent in the first quarter from a year ago, much higher than the 16 percent increase nationally, a new report shows.

Nearly 10,800 households in the state, or one in every 88 homes, received a foreclosure-related notice, said RealtyTrac, an Irvine, Calif.-based company that tracks filings. The firm said Utah has the fifth-highest rate of foreclosure filings of all states, behind only Nevada, Arizona, Florida and California. The Beehive State has been in the top tier for much of the past year.

Nationally, more than 900,000 households, or one in every 138 homes, received a foreclosure-related notice, which ranges from a homeowner being warned he or she is behind on their mortgage to a bank taking possession. Across the country, more homes were taken over by banks and scheduled for a foreclosure sale than in any quarter going back to at least January 2005, when RealtyTrac began reporting the data, the firm said. Experts say it’s a sign that banks are starting to wade through the backlog of troubled home loans at a faster pace, according to the report.

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