CLERK & COMPTROLLER RELEASES NOVEMBER FORECLOSURE STATS
New cases up 51 percent compared with same time last year
WEST PALM BEACH, FLA. (December 7, 2011) – The number of new foreclosure cases in Palm Beach County increased significantly compared with the same time last year, though down slightly from the previous month.
There were 1,204 cases filed in November, down 8.2 percent from 1,311 filed in October. But the number of new cases is up 51.1 percent compared with the previous year, when 797 cases were filed.
Many banks suspended foreclosures at the end of 2010 to review their pending cases.
“Recently we’ve seen many more foreclosure filings than we did at the beginning of 2011,” said Clerk Sharon Bock. “Even with the slight decrease from October to November, there were still several hundred more cases filed last month than in the first quarter of this year.”
The number of foreclosures filed in 2011 continues to be less than the total filed in 2010. There were 10,935 cases filed through the end of November 2011, down 42.4 percent from the 18,968 foreclosures filed through November 2010.
Foreclosure Sales Results
There were 899 properties sold during the Clerk’s online foreclosure auctions in November, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 757 were sold back to the plaintiff in the foreclosure proceeding – typically a bank or mortgage company – while 142 were sold to a third party.
There were 310 scheduled auctions cancelled in November, out of 1,209 advertised for sale. The cancellation rate was at 25.6 percent, compared with 30.2 percent in October.
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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