Foreclosures Way Up In Palm Beach County

Boca Business News

dv1734041BOCA RATON, FL (BocaNewsNow.com) — The Real Estate market in Palm Beach County may be showing some signs of life, but foreclosures remain a very real problem weighing on sales and selling prices.
The Palm Beach County Clerk’s Office tells BocaNewsNow.com that foreclosures were up nearly 27 percent in 2012 from 2011, marking the first year-over-year increase in foreclosures ince 2009.
By the numbers: there were 15,419 new foreclosures filed in 2012, up from 12,154 in 2011.
“In 2012, we saw banks once again pursue foreclosure cases after slowing down in 2011,” Clerk Sharon Bock said. “I know that, for the first half of 2013, I’ll be watching to see what moves the state Legislature makes related to foreclosures and to funding for Florida’s Clerks, which process the thousands of foreclosure cases filed in the state’s courts each month.”
On the up side, the number of mortgages filed in Palm Beach County rose from November to December of 2012 — with 3,259 mortgages recorded in December, up from 2,866 the month before.