Nearly one in 10 Utah homeowners are either behind on their mortgage payments or are losing their properties to foreclosure, a new report shows.The state’s combined default and foreclosure rate remains abnormally high, as it does nationally. However, Utah’s rate is down from more than 11 percent in the fourth quarter of 2010.
Utah’s jobs sector has been improving since last summer, and is a key factor in helping to reduce the share of problem loans. Those who lose jobs, for example, may have an easier time finding another one before they fall behind on their mortgage or lose it to foreclosure. Salt Lake Tribune
