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News Release

CLERK & COMPTROLLER RELEASES JULY FORECLOSURE STATS

New case filings decrease 2 percent from June; up 28 percent since July 2011

WEST PALM BEACH, FLA. (August 13, 2012) – The number of new foreclosure filings decreased in July compared with the previous month, but remained higher when compared with the same time in 2011, according to the latest statistics from the Clerk & Comptroller’s office.

There were 1,220 new foreclosures filed in July, down 2.3 percent from the 1,249 cases filed in June, but up 28.4 percent from the 950 new foreclosures filed in July 2011.

“The number of new foreclosure cases appears to be holding steady,” said Clerk Sharon Bock. “While it’s the second straight month we’ve seen a decline in new case filings, the levels are comparable to what we’ve seen all this year.”

Mortgages/Deeds Recorded

Another indicator for Palm Beach County’s housing market is the number of mortgages and deeds recorded by the Clerk & Comptroller’s office. The Clerk’s office is keeper of Palm Beach County’s official records, and records all deeds and mortgages submitted for recording in Palm Beach County.
There were 4,828 deeds recorded during July in Palm Beach County, a 16.7-percent decrease from the 5,799 deeds recorded in June but a .5-percent increase over the 4,804 deeds recorded in July 2011.

There also were 3,105 mortgages recorded in July, a 14.8-percent decrease from the 3,645 mortgages recorded in June, but a 43.2-percent increase from the 2,169 mortgages recorded in July 2011.

Foreclosure Sales Results

There were 606 properties sold during July’s online foreclosure auctions, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 426 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, while 180 were sold to a third party. Six properties did not sell at auction.

There were 295 scheduled auctions cancelled in July, out of 907 advertised for sale. The cancellation rate was at 32.5 percent, compared with 37.7 percent in June. The average cancellation rate is about 30 percent.

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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