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News Release

CLERK & COMPTROLLER RELEASES OCTOBER FORECLOSURE STATS

New cases up nearly 7 percent compared with same time last year

WEST PALM BEACH, FLA. (November 10, 2011) – New foreclosure filings increased nearly 7 percent in October compared with the same time last year – the first time since July 2009 that the Clerk & Comptroller’s office has seen the number of foreclosure cases rise when compared with the previous year.

October also saw the third straight month that foreclosure filings increased, according to the latest statistics available from the Clerk’s office.

There were 1,311 new foreclosures filed in October, a 10.4-percent increase from the 1,188 cases filed in September, and a 6.9-percent increase compared with October 2010.

However, the number of foreclosures filed through the end of October 2011 is down 46.5 percent compared with the same time period in 2010. There were 9,731 cases filed through the end of October, versus 18,171 through the end of October 2010.

 “This year-over-year increase may be an indicator of a new wave of foreclosures that experts have speculated about for much of this year,” Clerk Sharon Bock said. “We’re certainly seeing more cases filed with us in Palm Beach County.”

Foreclosure Sales Results

There were 955 properties sold during the Clerk’s online foreclosure auctions in October, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 825 were sold back to the plaintiff in the foreclosure proceeding – typically a bank or mortgage company – while 130 were sold to a third party.

There were 414 scheduled auctions cancelled in October, out of 1,369 advertised for sale. The cancellation rate was at 30.2 percent, compared with 34.9 percent in September.

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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