Foreclosures Soaring in California, Arizona

Foreclosures have been soaring throughout California and parts of Arizona, according to Default Research Inc., a foreclosure research company based in Mt. Pleasant, Pa."Many people are focused on Southern California as the 'hot spot' of foreclosure activity due to the sheer numbers of foreclosures, but Northern California has seen increases percentagewise nearly as high as Southern California," said Serdar Bankaci, president and chief executive officer of Default Research. "In fact, there has been an average increase in foreclosure of 50% since the beginning of the year." Meanwhile, Pima and Maricopa counties in Arizona have experienced foreclosure increases since January of 40% and 30%, respectively, the company reported. Default Research can be found online at http://www.defaultresearch.com.