The high number of properties under home, commercial and ranch foreclosure listings in Arizona earned the state the right to receive $45 million of aid from the U.S. federal government.
Home foreclosures in Phoenix slowed in February, but defaults surged. Completed foreclosures dropped to 4,271 in February from 4,452 in January while defaults rose from 6,762 in January to 7,604 in February.
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