CLERK & COMPTROLLER RELEASES SEPTEMBER FORECLOSURE STATS
New foreclosure filings down 51 percent from previous year
WEST PALM BEACH, FLA. (October 9, 2013) – The number of new foreclosure cases filed in Palm Beach County in September remains significantly lower than the same time last year, according to the latest statistics available from the Clerk & Comptroller, Palm Beach County.
There were 547 new foreclosures in September, a 5.4 percent decrease from 578 foreclosures in August, and a 51.3 percent decrease from 1,124 cases filed in September 2012.
“I think Florida’s new foreclosure laws continue to affect our filings in Palm Beach County,” Clerk Sharon Bock said. “While there may be other factors, I think the new requirements that took effect July 1 are the biggest reason for our substantial decline in filings here.”
Florida’s new foreclosure requirements are outlined in Section 702.015, Florida Statutes.
Palm Beach County also saw a drop in the number of new mortgages and deeds recorded in September compared with the August.
There were 5,614 deeds recorded in Palm Beach County during September, down 9.9 percent from 6,228 deeds recorded in August, but up 5.5 percent from 5,324 deeds recorded in September 2012.
There also were 3,379 mortgages recorded in September, a 13.9 percent decrease from 3,923 mortgages recorded in August and a 15.9 percent decrease from 4,017 mortgages recorded in September 2012.
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.
Foreclosure Sales Results
There were 837 properties sold during September’s online foreclosure auctions, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 632 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, and 205 were sold to a third party. Two properties were not sold at auction.
There were 542 sales canceled in September, out of 1,381 scheduled for sale. The cancellation rate was 39.3 percent, compared with 36.3 percent in August.
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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