Thursday, August 9, 2012

GREAT NEWS.....Utah foreclosure rate drops to 26th in Nation

SALT LAKE CITY — SALT LAKE CITY (AP) - Utah's foreclosure rate is the 26th highest in the nation after posting a more than 70 percent drop in activity since last July.

Data released Thursday by RealtyTrac Inc. shows that one in 1,284 Utah housing units saw a foreclosure filing in July. That's 11 percent down from June.

Utah foreclosure filings have been dropping quickly in the past few months. In April, the state had the 7th highest foreclosure rate - with one in 419 homes seeing a foreclosure filing.

Nationwide, foreclosure activity is down slightly. The number of default notices, scheduled auctions and bank repossessions was down 3 percent from June and 10 percent from last July.

California, Arizona, Florida, Georgia and Illinois had the highest foreclosure rates in the nation in July.