The number of foreclosures in Los Angeles County during the first quarter were up a whopping 63 percent above the total in the comparable quarter a year earlier, Default Research Inc. said in an e-mailed statement to MortgageDaily.com. "With rising interest rates, the economy slowing down in that part of California, and a quarter of L.A. residents working at jobs that do not pay a living wage, the significant increase in foreclosures is a very alarming trend in the largest county in the nation," said Default Research's president and chief executive in an announcement.
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L.A. Foreclosures Soar 
