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News Release

CLERK & COMPTROLLER RELEASES SEPTEMBER
FORECLOSURE STATS

New case filings decrease 24 percent from August, 5 percent from September 2011

WEST PALM BEACH, FLA. (October 16, 2012) – The number of new foreclosure filings dropped in September compared with the previous month, as well as with the same time in 2011, according to the latest statistics from the Clerk & Comptroller’s office.

There were 1,124 new foreclosure filed in September, a 24.3-percent decrease from the 1,485 new foreclosures filed in August and a 5.4-percent decrease from the 1,188 foreclosures filed in September 2011.

“Despite the decrease between August and September, we’re still seeing more new foreclosure filings this year compared with 2011,” said Clerk Sharon Bock. “We remain on track to surpass last year’s new foreclosure caseload.”

Mortgages/Deeds Recorded

Another indicator for Palm Beach County’s housing market is the number of mortgages and deeds recorded by the Clerk & Comptroller’s office. The Clerk’s office is the keeper of Palm Beach County’s official records, and records all deeds and mortgages submitted for recording in Palm Beach County.

There were 5,324 deeds recorded in Palm Beach County during September, a 1.9-percent increase from the 5,226 deeds recorded in August and a 4.9-percent increase from the 5,077 deeds recorded in September 2011.

There also were 4,017 mortgages recorded in September, a 16.3-percent increase from the 3,454 mortgages recorded in August and a 65.6-percent increase from 2,426 mortgages recorded in September 2011.

Foreclosure Sales Results

There were 764 properties sold during September’s online foreclosure auctions, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 520 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, while 244 were sold to a third party.

There were 297 canceled sales in September, out of 1,061 advertised for sale. The cancellation rate was 28 percent, compared with 47.8 percent in August. 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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