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SALT LAKE CITY -- Utah ranks fifth in the country for its foreclosure rate, behind only Nevada, Arizona, Florida and California.
The midyear 2009 U.S. Foreclosure Market Report from online market research firm RealtyTrac shows one in every 69 households had a foreclosure filing. That rate is up close to 88 percent from the first six months of last year.
Related:
Foreclosures rise 15 percent in first half of 2009
The number of U.S. households on the verge of losing their homes soared by nearly 15 percent in the first half of the year as more people lost their jobs and were unable to pay their monthly mortgage bills.Utah also ranks fifth in the country for delinquency filings.
Zions Bank Economist Jeff Thredgold tells the Deseret News the intermountain region is certainly getting hit hard. He also says large families are contributing to Utah's woes, since they boast "larger-than-average" financial stresses.
For details of the report, click here.
