Foreclosure activity escalates in Q1

Utah's foreclosure rate soars

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Properties receiving foreclosure filings jumped 16 percent in the first quarter compared to the same period last year, according to a quarterly report by foreclosure data site RealtyTrac.

Filings — default notices, scheduled auctions and bank repossessions — went to 932,234 properties, a 7 percent surge from the fourth quarter. That means 1 in every 138 housing units in the country received a foreclosure filing, the report said.