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News Release

JANUARY FORECLOSURE STATS AVAILBLE FROM CLERK & COMPTROLLER

Clerk’s office also marks one year of online foreclosure sales in January

WEST PALM BEACH, FL (February 23, 2011) – The number of initial foreclosures in Palm Beach County declined slightly in January, according to the latest figures available from the Clerk & Comptroller’s office.

There were 860 new foreclosure cases filed in January 2011, down 1.4 percent from the 872 filed in December 2010. January’s case filings represent a nearly 60 percent decrease over the 2,148 cases filed during the same month the previous year.

January also marked the one-year anniversary of online foreclosure sales in Palm Beach County. The Clerk’s office has sold more than 13,600 properties online since launching ClerkAuction® on January 21, 2010.

Foreclosure Auction Sales Cancellations

The Clerk’s office continues to see higher-than-average foreclosure sales cancellations, with 51.5 percent of auctions – or 1,358 scheduled sales – cancelled in January. That’s slightly higher than December, when 48.6 percent, or 1,087 sales, were cancelled.

The average cancellation rate is around 30 percent.

Foreclosure Sales Results

Though the number of scheduled foreclosure sale cancellations remains high, 1,281 properties sold in the Clerk’s online foreclosure auctions during January, according to statistics from Grant Street Group, the facilitator of the Clerk’s office online foreclosure auctions. Of those properties, 1,167 were sold back to the plaintiff in the foreclosure proceeding – typically a bank or mortgage company.

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.  Palm Beach County’s foreclosed properties are auctioned five days a week online at www.mypalmbeachclerk.com.

For more information about the Clerk’s office, please visit www.mypalmbeachclerk.com or call (561) 355-2996.

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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