Clerk & Comptroller releases March foreclosure statistics
Palm Beach County’s new foreclosure cases down 52 percent from March 2013
WEST PALM BEACH, FLA. (April 9, 2014) – The number of new foreclosure cases filed in Palm Beach County increased slightly from February to March, but remain substantially lower than last year’s levels, according to the latest statistics from the Clerk & Comptroller, Palm Beach County.
There were 533 new foreclosures filed in March, a 2.9 percent increase from 518 cases filed in February. But new foreclosures are down 52.3 percent from March 2013, when 1,118 cases were filed.
“Palm Beach County’s economic recovery continues to keep our foreclosure numbers low,” Clerk Sharon Bock said. “Our case load remains significantly lower than last year, in part because of the turnaround in our local real estate market.”
As foreclosure filings remained steady, there was an increase in mortgages and deeds recorded in Palm Beach County during March. There were 5,987 deeds recorded in March, a 20.1 percent increase from 4,984 deeds recorded in February, but a 10.4 percent decrease from 6,684 deeds recorded in March 2013.
There were 2,597 mortgages recorded in March, a 23.8 percent increase from 2,098 mortgages recorded in February, but a 42.5 percent decrease from 4,513 mortgages recorded in March 2013.
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 907 properties sold at foreclosure auction in March, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 599 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, and 208 were sold to a third party.
There were 470 foreclosure sales canceled in March, out of 1,377 scheduled for sale. The cancellation rate was 34.1 percent, compared with 40.5 percent in February.
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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