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News Release

CLERK & COMPTROLLER RELEASES AUGUST FORECLOSURE STATISTICS

Palm Beach County’s new foreclosures down 17 percent from previous year

WEST PALM BEACH, FLA. (September 11, 2014) – The number of new foreclosures in Palm Beach County decreased in August, according to the latest statistics from the Clerk & Comptroller, Palm Beach County.

There were 480 new cases in August, a 9.9 percent decrease from 533 cases filed in July and a 17 percent decrease from 578 cases filed in August 2013.

“The number of new cases filed in Palm Beach County has maintained a steady pace for the past year,” said Clerk Sharon Bock. “I think homeowners who are behind on their mortgages are finding other alternatives, such as selling their homes, to avoid foreclosure.”

Mortgages/Deeds Recorded

The number of mortgages and deeds recorded in Palm Beach County also decreased in August. There were 6,083 deeds recorded in August, a 9.4 percent decrease from 6,714 deeds recorded in July and a 2.3 percent decrease from 6,228 deeds recorded in August 2013.

There were 3,204 mortgages recorded in August, a 7.4 percent decrease from 3,460 mortgages recorded in July and a 18.3 percent decrease from 3,923 mortgages recorded in August 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 722 properties sold at foreclosure auction in August, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 572 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, and 150 were sold to a third party.

There were 449 foreclosure sales canceled in August, out of 1,171 scheduled for sale. The cancellation rate was 38.3 percent, compared with 34 percent in July.

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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