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News Release

CLERK & COMPTROLLER RELEASES AUGUST FORECLOSURE STATS

New case filings up almost 19 percent from last month

WEST PALM BEACH, FLA (September 14, 2011) – The number of new foreclosure cases increased almost 19 percent from July to August, according to the latest statistics available from the Clerk & Comptroller’s office.

There were 1,126 new foreclosures filed in August, an 18.53-percent increase from the 950 cases filed in July. Foreclosure filings remain at a slower pace compared with the previous year, down 34.27 percent compared with August 2010.

“We’re continuing to monitor the number of foreclosures filed with our office,” said Clerk Sharon Bock. “We were anticipating another wave of filings this year, based on some expert forecasts, but so far an influx of new cases has yet to materialize.”

The number of new filings from January to August is down roughly 52 percent compared with the same time period in 2010. The Clerk’s office had more than 31,000 foreclosures filed in 2009, and 19,840 new foreclosures filed in 2010.
 
Foreclosure Sales Cancellations

The number of sales cancellations appears to have stabilized, as the cancellation rate dropped even closer to its average of around 30 percent.

There were 319 scheduled auctions cancelled in August, out of 1,035 advertised for sale. That puts the cancellation rate at 30.82 percent, compared with 33.27 percent in July.

Foreclosure sales cancellations in Palm Beach County reached their peak in January, when 51.46 percent of scheduled sales were called off.

Foreclosure Sales Results

There were 715 properties sold during the Clerk’s online foreclosure auctions in August, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 599 were sold back to the plaintiff in the foreclosure proceeding – typically a bank or mortgage company – while 116 were sold to a third party.

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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