Clerk & Comptroller releases June foreclosure statistics
Palm Beach County’s new foreclosures down 50 percent compared with first six months of 2013
WEST PALM BEACH, FLA. (July 14, 2014) – Palm Beach County’s new foreclosures in the first six months of 2014 are half of what they were for the same time period last year, according to the latest statistics from the Clerk & Comptroller, Palm Beach County.
There were 3,199 new cases filed in the first six months of 2014, compared with 6,454 in the first six months of 2013, representing a 50.4 percent decrease from the previous year.
The number of new foreclosures also decreased in June. There were 497 new cases filed in June, a 9.3 percent decrease from 548 cases filed in May and a 50.4 percent decrease from 1,001 cases filed in June 2013.
“The first six months of 2014 were the lowest number of new foreclosure case filings since the first six months of 2006,” Clerk Sharon Bock said. “Our case filings are stable. While it is good to keep an eye on foreclosure case filings, the numbers that I believe are just as important to watch are the number of deeds and mortgages recorded with our office. Those numbers were down in June, but not to a significant degree.”
The number of mortgages and deeds recorded in Palm Beach County decreased in June. There were 6,318 deeds recorded in June, a 7.3 percent decrease from 6,817 deeds recorded in May, and a 16.3 percent decrease from 7,548 deeds recorded in June 2013.
There were 3,036 mortgages recorded in June, a 1.2 percent decrease from 3,074 mortgages recorded in May, and a 42.7 percent decrease from 5,294 mortgages recorded in June 2013.
The Clerk’s office is the keeper 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 849 properties sold at foreclosure auction in June, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 634 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, and 215 were sold to a third party.
There were 450 foreclosure sales canceled in June, out of 1,299 scheduled for sale. The cancellation rate was 36.4 percent, compared with 38.4 percent in May.
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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