Clerk & Comptroller Releases October Foreclosure Stats
New foreclosure filings up 21 percent from September, down 53 percent from previous year
WEST PALM BEACH, FLA. (November 12, 2013) – New foreclosures in Palm Beach County increased slightly in October, but the number of new cases remains half of the total filed the same time last year, according to the latest statistics available from the Clerk & Comptroller, Palm Beach County.
There were 661 new foreclosures in October, a 20.8 percent increase from 547 foreclosures in September, but a 53.4 percent decrease from 1,418 cases filed in October 2012.
“I get the sense that we’ll continue to see our foreclosure numbers slowly increase to the levels we saw before July 1, when Florida’s new foreclosure law took effect,” Clerk Sharon Bock said. “However, if the real estate market continues to show signs of improvement, you may see more banks agree to short sales or work with borrowers to modify their mortgages rather than pursue foreclosure cases.”
Palm Beach County saw an increase in the number of deeds recorded in October, while the number of mortgages recorded declined compared with September.
There were 6,384 deeds recorded in Palm Beach County during October, a 13.7 percent increase from 5,614 deeds recorded in September and a 16.4 percent increase from 5,485 deeds recorded in October 2012.
There also were 3,134 mortgages recorded in October, a 7.3 percent decrease from 3,379 mortgages recorded in September, and a 16.6 percent decrease from 3,759 mortgages recorded in October 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 965 properties sold during October’s online foreclosure auctions, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 748 were sold back to the plaintiff - typically a bank or mortgage company - in the foreclosure proceeding, and 217 were sold to a third party.
There were 534 sales canceled in October, out of 1,499 scheduled for sale. The cancellation rate was 35.6 percent, compared with 39.3 percent in September.
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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