CLERK & COMPTROLLER RELEASES OCTOBER FORECLOSURE STATISTICS
New foreclosures down nearly 17 percent from previous year, up 14 percent from September
WEST PALM BEACH, FLA. (December 5, 2014) – The number of new foreclosures in Palm Beach County increased for the second consecutive month, but the totals remain lower than at the same time last year, according to the latest statistics from the Clerk & Comptroller, Palm Beach County.
There were 551 new cases filed in October, a 13.8 percent increase from 484 cases in September, but a 16.6 percent decrease from 661 cases filed in October 2013.
“Through the end of October, there were 5,247 new foreclosure cases filed with us, compared with 8,627 through October 2013,” said Clerk Sharon Bock. “Based on the trend, we are forecasting that we will end 2014 with fewer foreclosures in Palm Beach County than in the previous year.”
The number of mortgages and deeds recorded in Palm Beach County both increased from September to October.
There were 6,522 deeds recorded in October, a 12.4 percent increase from 5,804 deeds recorded in September and a 2.2 percent increase from 6,384 deeds recorded in October 2013.
There were 3,481 mortgages recorded in October, a 14.7 percent increase from 3,036 mortgages recorded in September and an 11.1 percent increase from 3,134 mortgages recorded in October 2013.
The Clerk’s office holds all of Palm Beach County’s official records, and records all deeds and mortgages submitted for recording in Palm Beach County.
Foreclosure Sales Results
There were 716 properties sold at foreclosure auction in October, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 569 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, and 147 were sold to a third party.
There were 527 foreclosure sales canceled in October, out of 1,243 scheduled for sale. The cancellation rate was 42.4 percent, compared to 38.3 percent in September.
The Clerk & Comptroller’s office processes all foreclosure-related court documents, notices of action and motions. After a foreclosure judgment, the office conducts the foreclosure auction and issues all post-sale documents, such as the certificate of title.
Information about foreclosures, updates about when certificates of title will be issued and links to auctions of Palm Beach County’s foreclosed properties are available at www.mypalmbeachclerk.com.
The Florida Constitution established the independent office of the Clerk & Comptroller as a public trustee, responsible for safeguarding public records and public funds. Clerk Sharon Bock is directly elected by and accountable to Palm Beach County residents. In addition to the roles of Clerk of the Circuit Court, County Recorder and Clerk of the Board of County Commissioners, the Clerk & Comptroller is the Chief Financial Officer, Treasurer and Auditor for Palm Beach County.
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