According to the RealtyTrac U.S. Foreclosure Market Report for September and the third quarter of 2012, the number of foreclosure filings — default notices, scheduled auctions and bank repossessions — for the Beehive State in September fell nearly 54 percent from the same month last year.
However, the number of default notices rose just under 1 percent from August 2012.
For the month, one in every 908 Utah households registered a foreclosure filing, compared to a U.S. rate of one in every 730 households.
Florida (one in 318), California (one in 361) and Illinois (one in 376) reported the highest monthly default rates, with Utah ranked at No. 16.
On a quarterly basis, Utah foreclosures dropped more than 43 percent from the previous three-month period, and 60 percent from the same quarter last year....
The report also stated that the decrease in September helped drop the third quarter foreclosure numbers to the lowest level since the fourth quarter of 2007....
...Daren Blomquist, vice president at RealtyTrac said, “A backlog of delayed foreclosures will likely build up in some states as lenders adjust to the new rules, with many of those delayed foreclosures eventually hitting down the road.”
Jason Lee, KSL
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