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News Release

NOVEMBER FORECLOSURE STATS AVAILABLE FROM
CLERK & COMPTROLLER

Clerk Bock reports the lowest number of initial foreclosure filings since 2007

WEST PALM BEACH, FL (December 14, 2010) –  The number of initial foreclosure filings in Palm Beach County hit its lowest level in years, with 797 cases filed in November, according to the latest figures available from the Clerk & Comptroller’s office.  The last time initial foreclosure filings dipped below 1,000 was in 2007, prior to the spike in foreclosure filings.

The 797 cases filed in November represent a 35.04-percent decrease from the 1,227 foreclosures filed in October, and a roughly 60-percent drop over the same time period last year. 

“One could assume that the number of new filings declined as more banks slowed or halted foreclosures to review their paperwork,” said Clerk Sharon Bock.

Since January, there have been 18,092 new cases filed in Palm Beach County, down from the 27,558 circuit civil foreclosures filed between January and November 2009.

Foreclosure Auction Sales Cancellations

The Clerk’s office continues to see higher-than-usual cancellations of scheduled foreclosure sales auctions. The cancellation rate in November was 45.57 percent, or 1,167 sales cancelled, an increase over the average cancellation rate of 30 percent.

In October, there were 1,134 scheduled foreclosure sales cancelled, or 52.5 percent, according to Clerk’s office statistics.

Foreclosure Sales Results

Despite two straight months of higher-than-average sales cancellations, 1,394 properties sold in the Clerk’s online foreclosure auctions during November. Of those properties, 1,322 were sold back to the plaintiff in the foreclosure proceeding – typically a bank or mortgage company – while 72 were sold to third-party bidders, according to sales statistics from Grant Street Group, which facilitates the Clerk’s office online foreclosure auctions.

The Clerk & Comptroller’s office processes all foreclosure filings and court documents, notices of action and motions. After a foreclosure judgment, the office issues a notice of sale; conducts the foreclosure auction; issues all post-sale documents, such as the certificate of title; and dispenses all sales proceeds.  Palm Beach County’s foreclosed properties are auctioned five days a week online at www.mypalmbeachclerk.com.

For more information about the Clerk’s office, please visit www.mypalmbeachclerk.com or call (561) 355-2996.

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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