Increase on Charlotte foreclosure rates

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In the last couple of years there has been an increase in the number of foreclosure homes in the state of North Carolina. One of the worst hit is Charlotte, the biggest city in the state. Charlotte has a population of around 695,995, and is being considered as one of the prime financial hubs in the state as well as US. It is home to some of the biggest Multinational companies and several of them are featured in the Fortune 500 list.

Charlotte, Mecklenburg-NC

With a median annual family income of approximately $56,517, in the recent past North Carolina has seen a drop in its unemployment rate. The rate of unemployment fell by 4.7% which is good news. But the bad news is that this has not affected the increase in the number of bank foreclosures.

Charlotte was listed among the top cities in 2007 with some of the highest delinquency rates in the US and it was ranked 14th in that list. By the beginning of the third quarter in 2007, North Carolina saw another spike in the foreclosure rate as it jumped by almost 83%. The rate was recorded as one per 1,131 homes. Such high rates have led to the increase in the total number of North Carolina bank foreclosures available for first time homebuyers and investors. This is over and above the number of North Carolina foreclosure homes listed in the previous year. Get the latest and updated list of Charlotte bank foreclosures.

As of today, there are plenty of Charlotte bank foreclosures available in various counties and this includes Mecklenburg County too. If you are an investor looking for a good deal or a cheap buy then Charlotte foreclosure homes will be the perfect buy for you. Even first time homebuyers can get discounts of up to 25% on these foreclosed homes.