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News Release

CLERK & COMPTROLLER RELEASES JUNE FORECLOSURE STATS

New case filings decrease nearly 8 percent from May; up 28 percent since
June 2011

WEST PALM BEACH, FLA. (July 11, 2012) – The number of new foreclosure filings decreased in June compared with the previous month, but remained higher when compared with the same time in 2011, according to the latest statistics from the Clerk & Comptroller’s office.

There were 1,249 new foreclosures filed in June, down 7.9 percent from the 1,356 new cases filed in May, but up 28.1 percent from the 975 foreclosures filed in June 2011.

“While there were fewer filings overall compared with last month, we’re still seeing more financial institutions move ahead with foreclosure proceedings – a trend we began to see last summer,” said Clerk Sharon Bock. “While we’re not seeing the volume we saw two or three years ago, there are still a substantial number of new cases coming to us each month. We anticipate that will continue.” 

Foreclosure Sales Results

There were 523 properties sold during June’s online foreclosure auctions, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 384 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, while 139 were sold to a third party.

There were 317 scheduled auctions cancelled in June, out of 840 advertised for sale. The cancellation rate was at 37.7 percent, compared with 35.2 percent in May. 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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