Clerk & Comptroller releases APRIL foreclosure statistics
Palm Beach County’s new foreclosure cases down 44 percent from April 2013
WEST PALM BEACH, FLA. (May 13, 2014) – The number of new foreclosure filings in Palm Beach County remained flat in April, and remain lower than last year, according to the latest statistics from the Clerk & Comptroller, Palm Beach County.
There were 535 new foreclosures filed in April – a 0.38 percent increase from 533 cases filed in March, but a 44.4 percent decrease from 962 cases filed in April 2013.
“We’ve returned to case levels that we saw in the fourth quarter of 2006, before our filings increased to the point where we handled as many as 3,000 cases a month,” Clerk Sharon Bock said. “Compare that to our situation now, where we had approximately 2,100 foreclosure cases filed with our office in the first four months of 2014.”
The number of mortgages and deeds recorded in Palm Beach County increased for the second consecutive month. There were 6,955 deeds recorded in April, a 16.2 percent increase from 5,987 deeds recorded in March and a 4.2 percent increase from 6,675 deeds recorded in April 2013.
There were 2,987 mortgages recorded in April, a 15 percent increase from 2,597 mortgages recorded in March, but a 31.2 percent decrease from 4,343 mortgages recorded in April 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 945 properties sold at foreclosure auction in April, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 722 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, and 223 were sold to a third party.
There were 481 foreclosure sales canceled in April, out of 1,426 scheduled for sale. The cancellation rate was 33.7 percent, compared with 34.1 percent in March.
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.
# # #