About 3 percent of 433,456 Utah households with a mortgage were one month behind on their payments in December, reflecting continued weakness in the state’s economy and housing market, a new report shows.
But the good news is that the state’s rate has declined from 3.2 percent a year earlier, reports the Mortgage Bankers Association, an industry group that tracks problem loans. While the share of homes lost to foreclosure remains high in Utah and most other parts of the country, the quarterly report does show improvement in problem loans — defined as those in which the homeowner is one month or more behind on payments. Salt Lake Tribune
