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Thousands of Utah homes are now in hands of lenders
REAL ESTATE-OWNED (listings in 2011)
Each dot represents a property where the mortgage lender assumed ownership after foreclosure
OGDEN WEST HAVEN
In metropolitan areas and small towns located up and down Utah’s Interstate 15 corridor, thousands of Utahns have lost their homes to foreclosure — and the mortgage lenders have assumed ownership. From Magna to Herriman and Lehi to Spanish Fork, clusters of foreclosed and realestate-owned homes dot the map.
Wasatch Front’s west side hard hit
Notices of trustee sale — when mortgage lenders put foreclosed property up for sale at auction — show that about three in four of the hardest-hit ZIP codes are on Salt Lake and Utah counties’ west side. 25 hardest-hit areas, by ZIP code, mid-2007 to 2011
SALT LAKE COUNTY
SALT LAKE CITY The Avenues
76.2% are in west-side ZIP codes
WEST VALLEY CITY 2100 S.
SOUTH SALT LAKE 3300 S. MILLCREEK
Percent of west-side notices
9.4% 5.9% 5.9% 5.8% 5.6% 5.2% 5.1% 4.5% 4.4% 4.4% 4.3% 4.0% 3.5% 3.1% 3.0%
HOLLADAY MURRAY COTTONWOOD HEIGHTS
WEST JORDAN ALTA Bangerter Hwy. SOUTH JORDAN SANDY
DRAPER HERRIMAN BLUFFDALE
Salt Lake 84118 Herriman 84096 West Valley 84120 S. Jordan 84095 Draper 84020 Salt Lake 84119 W. Jordan 84081 Saratoga Spr. 84043 W. Jordan 84084 Magna 84044 West Valley 84128 84065 Bluffdale W. Jordan 84088 84121 Salt Lake 84116 Salt Lake St. George 84770 Pleasant Gr. 84062 American Fk. 84003 84005 Eagle Mt. 84104 Salt Lake 84092 Sandy 84047 Midvale 84094 Sandy Saratoga Spr. 84045 84106 Salt Lake 84070 Sandy West-side total percentage
AMERICAN FORK EAGLE MOUNTAIN SARATOGA SPRINGS PLEASANT GROVE
Going through the foreclosure process
LOAN IN DEFAULT
Notice NOT of default • A ﬁrst E SUR indicatorOREa homeowner is F that CLO in trouble comes when the mortgage’s lien holder sends out a notice of default, which is an initial, nonjudicial document signaling that the homeowner is at least 90 days behind on mortgage payments and that foreclosure has begun.
Notices of trustee sale, by ZIP code, mid-2007 to 2011:
Saratoga Springs Pleasant Grove American Fork Eagle Mountain Saratoga Springs Spanish Fork Provo Orem Springville Payson Orem Provo Orem Santaquin Provo Alpine Salem Lindon Mapleton Cedar Valley Goshen 84043 459 84062 453 84003 444 84005 383 84045 328 84660 257 84601 256 84057 243 84663 234 84651 214 84058 207 84604 147 84097 122 84655 121 84606 115 84004 99 84653 85 84042 71 84664 84013 11 84633 7
Trustee sale • If the lender and the homeowner cannot come to terms, the lender sends out a notice of trustee sale, advertising the legal description of the property being foreclosed on and setting the date, time and place for the pending sale.
Realestate owned • If a buyer for the foreclosed home cannot be found at the trustee sale, the lender takes ownership, often designating a loan servicing company to maintain the property until it sells.
Sources: RealtyTrac, Tribune research
Note: Data collected from 2011
COMPUTER ASSISTED REPORTING BY TONY SEMERAD, GRAPHIC BY TODD ADAMS | The Salt Lake Tribune