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News Release

CLERK & COMPTROLLER RELEASES DECEMBER, YEAR-END FORECLOSURE STATS

New cases in 2011 down almost 39 percent from prior year

WEST PALM BEACH, FLA. (January 5, 2012) – For the second straight year, the number of new foreclosure cases filed in Palm Beach County has decreased compared with the previous year.

There were 12,154 new foreclosures filed in 2011, down 38.7 percent from the 19,840 cases filed in 2010. Foreclosures in Palm Beach County are down 61.6 percent from the record high of 31,678 cases in 2009.

However, new filings for December showed an increase over both the previous month and compared with the number of filings in December 2010. There were 1,219 foreclosures filed in December 2011, a 1.3-percent increase from the 1,204 filed in November 2011 and a 39.8-percent increase over the 872 foreclosures filed in December 2010.

Many banks suspended foreclosures at the end of 2010 to review their pending cases.

“While it’s doubtful that we’ll ever see the number of foreclosures again reach the heights that they did in 2009, we’re continuing to monitor this uptick in foreclosure cases to see if it’s a trend that continues through the first quarter of 2012,” said Clerk Sharon Bock.

Foreclosure Sales Results

There were 12,069 properties sold during the Clerk’s online foreclosure auctions during 2011, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. In December, there were 955 properties sold at auction.

Of those properties auctioned in December, 776 were sold back to the plaintiff in the foreclosure proceeding – typically a bank or mortgage company – while 179 were sold to a third party.

There were 360 scheduled auctions cancelled in December, out of 1,315 advertised for sale. The cancellation rate was at 27.4 percent, compared with 25.6 percent in November.

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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