New Castle County is located in the state of Delaware metropolitan area, and is populated by approximately 525,000 people. The median household income is $53,543, making it a thriving middle-class urban city. It is the northernmost county in Delaware, and is bordered by Pennsylvania, New Jersey, and Maryland.
New Castle County, Delaware has a burgeoning economy and a constantly expanding number of employment opportunities. Purchasing a foreclosure property in New Castle ensures that you will be buying a home in an area where a growing city will lead to an increase in housing demand.
The latest RealtyTrac® U.S. Foreclosure Market Report states that there were 192 mortgage foreclosures in the state of Delaware in March 2008, which is a 34 percent increase from last year’s rate. One out of every 1,994 houses in Delaware has received foreclosure filings in March, which makes the state number 42 in the ranking of national foreclosure rates per state. The county with the highest number of foreclosures in Delaware is New Castle County, which had 151 properties foreclosed on in March. That means that one in every 1,398 households in New Castle received a foreclosure filing, which is 1.4 times the state average.
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