Default Research is reporting that King County foreclosure filings are up 64 percent in August 2007 from the same time last year.  

According to Default Research , 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.”    

“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.”