PB CLERK: Foreclosures Continue Downward Trend

BOCA RATON, FL (BocaNewsNow.com) — Signaling an economic turnaround or a stall in filings, the Palm Beach County Clerk’s Office reports that foreclosure filings in the county continue a downward spiral.

The number of new foreclosure cases filed in Palm Beach County in September remains significantly lower than the same time last year, according to the latest statistics available from the Clerk & Comptroller, Palm Beach County.

There were 547 new foreclosures in September, a 5.4 percent decrease from 578 foreclosures in August, and a 51.3 percent decrease from 1,124 cases filed in September 2012.

“I think Florida’s new foreclosure laws continue to affect our filings in Palm Beach County,” Clerk Sharon Bock said. “While there may be other factors, I think the new requirements that took effect July 1 are the biggest reason for our substantial decline in filings here.”

Florida’s new foreclosure requirements are outlined in Section 702.015, Florida Statutes.

Mortgages/Deeds Recorded

Palm Beach County also saw a drop in the number of new mortgages and deeds recorded in September compared with the August.

There were 5,614 deeds recorded in Palm Beach County during September, down 9.9 percent from 6,228 deeds recorded in August, but up 5.5 percent from 5,324 deeds recorded in September 2012.

There also were 3,379 mortgages recorded in September, a 13.9 percent decrease from 3,923 mortgages recorded in August and a 15.9 percent decrease from 4,017 mortgages recorded in September 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.

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