Utah State Profile

Utah job growth remained one of the nation's fastest, with gains concentrated in the cyclical construction sector. Utah moved up to fourth place in the national ranking as job growth accelerated from year-ago levels to 4.6 percent in fourth quarter 2005...

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Finding Opportunity in the Utah Real Estate Market: Pre-Foreclosures

In any real estate market -particularly in areas in which home valuations are facing downward pressures (i.e., high unemployment levels, overpriced housing markets, or high levels of adjustable-rate mortgages), a certain percentage of homeowners will be in foreclosure of their mortgage payment or facing foreclosure. Mortgage loan default can occur dues to many causes: job loss, divorce, health issues.

A growing number of mortgage lenders practices have contributed to default rates due to the introduction of mortgage products that were projected to lower monthly loan payments and to help borrowers qualify for larger loan amounts, while others involved little in the way of documentation during the approval procedure. These riskier loans have made it easier for some people to get mortgage loans, but they also can raised the possibility that some borrowers may end up in foreclosure...

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