Foreclosure mystery: Why can’t conservative Utahns afford their mortgage?

Foreclosure mystery: Why can’t conservative Utahns afford their mortgage?

During the housing bubble, they led the nation in bankruptcies. Now that the bubble is bust, they’re among the top states in foreclosures. A RealtyTrac report released Thursday showed they had the fifth-highest foreclosure rate among the states, with 1 in 231 homes receiving a foreclosure notice in January. That’s nearly double the national rate and not far from No. 4 Florida’s rate of 1 in 187.

The US foreclosure rate actually fell 10 percent from December’s level – and Utah was down nearly 12 percent – but RealtyTrac suggested they could surge again in coming months if last year’s pattern holds true.