Despite Freezes, Foreclosures March On In Utah And Beyond

For most Americans at risk of losing their homes —especially those in Utah — the brutal business of foreclosure goes on.

Bank of America halted foreclosures across the country to address banks’ use of flawed foreclosure paperwork, but three other banks did so only in 23 states where judges have to review foreclosures— and Utah wasn’t one of them. And other banks holding millions of mortgages have not suspended any foreclosures.

As with all real estate matters, location is everything. So what does the industry’s moratorium mean for states such as Utah, Arizona, California and Nevada that typically have no judicial review of foreclosure cases (except when homeowners sue a bank)?

For now, “It’s probably going to have little — if any — effect in Utah,” said Rick Sharga, senior vice president of RealtyTrac cq , a company that tracks foreclosures nationally.

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