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News Release

CLERK & COMPTROLLER RELEASES MARCH FORECLOSURE STATS

New cases up more than 65 percent from March 2011

WEST PALM BEACH, FLA. (April 6, 2012) – There was a sharp increase in the number of new foreclosure cases filed in Palm Beach County during March, according to the latest statistics from the Clerk & Comptroller’s office.

There were 1,502 new foreclosures filed in March, up 25.4 percent from the 1,198 new cases filed in February and up 65.4 percent from the 908 foreclosures filed in March 2011.

“This is one of the most dramatic month-to-month increases we’ve seen in more than a year,” said Clerk Sharon Bock. “And the timing for an increase in foreclosure filings couldn’t be worse, since Florida’s Clerks will see their budgets dramatically cut on July 1. This will slow down case processing significantly.”

Processing foreclosure cases is one of the areas where Clerks throughout Florida are anticipating significant delays as a result of the $30 million budget cut approved by the Legislature for the fiscal year starting July 1. The Clerk & Comptroller’s office share of that cut is approximately $2.5 million.

Foreclosure Sales Results

There were 980 properties sold during March’s online foreclosure auctions, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 822 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, while 158 were sold to a third party.

There were 367 scheduled auctions cancelled in March, out of 1,347 advertised for sale. The cancellation rate was at 27.25, compared with 32.19 percent in February. The average cancellation rate is about 30 percent.

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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