CLERK & COMPTROLLER RELEASES FEBRUARY FORECLOSURE STATS
New cases up more than 58 percent from February 2011
WEST PALM BEACH, FLA. (March 8, 2012) – The number of new foreclosure cases filed in February increased by 58.5 percent compared with the same time last year, and held steady from the previous month, according to the latest statistics from the Clerk & Comptroller’s office.
There were 1,198 new foreclosures filed in February, up 0.17 percent from the 1,196 new cases filed in January and up 58.5 percent from the 756 foreclosures filed in February 2011.
“The increase compared with last February is not surprising, since at this time last year many banks were holding back on filing new foreclosure cases,” said Clerk Sharon Bock. “We’re still seeing higher case volume in foreclosures, and will continue to monitor that for any dramatic changes.”
Foreclosure Sales Results
There were 629 properties sold during February’s online foreclosure auctions, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 529 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, while 100 were sold to a third party.
There were 299 scheduled auctions cancelled in February, out of 929 advertised for sale. The cancellation rate was at 32.19 percent, compared with 24.7 percent in January. 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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