King County Foreclosures Increase 64 Percent in August 2007

Seattle, WA, September 25, 2007 --(PR.com)-- Default Research, the fastest growing foreclosure research company in the nation, is reporting that King County foreclosure filings are up 64 percent in August 2007 from the same time last year.

According to Default Research (www.defaultresearch.com), King County led the state with 341 foreclosure filings. This is up 218 from August 2006. The two counties following King were Pierce and Snohomish with 300 and 132 foreclosures respectively.

“The effects of the sub-prime and adjustable-rate mortgages can be seen in Washington State, and more specifically the Seattle area,” said Serdar Bankaci, President/CEO of Default Research. “Couple that with a slow down in the housing market and those are your two main culprits for the increasing foreclosure rates in King, Pierce and Snohomish counties.”

“While many families are facing foreclosure in the Seattle area, and our clients are using our leads to be the first to reach those people in need, Washington State as a whole is faring much better than several other states, such as California and Michigan. Down the West coast, Los Angeles County in California has foreclosure numbers 13 times higher than that of King County, and the Detroit area in the hard hit Midwest has six times the foreclosure filings of the Seattle area.”

For a full listing of the foreclosure statistics in the counties covered by Default Research in Washington State, please click on, www.newsletter.defaultresearch.com. With an emphasis on educating people about the foreclosure crisis, the Default Research site also offers extensive foreclosure resources, links to free informational teleseminars and a link to their growing national monthly foreclosure education newsletter, The Homestand.

Default Research is the national leader in foreclosure research. More information about Default Research can be found at its Web site: www.defaultresearch.com.

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