Utah foreclosure rates still rising

The number of foreclosure filings in Utah continued to rise in November, and the state ranked ninth in the nation for foreclosure notices, while the nationwide average fell to its lowest level since June, according to data released Thursday.

One in 450 Utah homeowners received at least one foreclosure-related notice in November. The total of 2,003 foreclosure filings in November was a 10.5 percent increase from October and a 104 percent increase from November 2007, the report from RealtyTrac said.

Washington County had the highest rate of foreclosure notices in November, with one in every 150 households receiving some type of foreclosure filing. The 350 foreclosure filings were a 25 percent jump from the previous month and a 361 percent increase from November 2007.

The second-highest annual increase came in Davis County, where the 243 foreclosure filings in November were a 247 percent increase from the same month a year earlier, and a 49 percent increase from October.

Weber County saw the highest monthly increase, with foreclosure filings rising 366 percent from October to November. The 233 foreclosure notices in November were a 60 percent increase from November 2007.

Foreclosure filings in Utah County rose 71 percent from November 2007 to November 2008, although they dropped 15 percent from this past October. The number of filings in Salt Lake also dropped 15 percent from October to November, although they were up 51 percent from November 2007.

Nationally, the number of American homeowners dragged into the housing crisis fell last month to the lowest level since June as new state laws lengthened the foreclosure process.

"We're going to have a pretty significant spike in January," said Rick Sharga, RealtyTrac's vice president for marketing. Plus, as job losses mount, "increases in foreclosure activity follow that pretty directly," he said.

More than 259,000 homes nationwide received at least one foreclosure-related notice in November, down 7 percent from October, but 28 percent higher than a year ago, RealtyTrac said.

The report comes as Democrats, including President-elect Barack Obama, insist that the government must use some of the bailout funds to halt rising foreclosures.

Last week, the Mortgage Bankers Association reported that a record one in 10 American homeowners

with a mortgage was either at least one month behind on their payments or in foreclosure at the end of September.