Foreclosures Rise Again In Palm Beach County

Feature

BOCA RATON, FL (BocaNewsNow.com) — Nearly 1300 homeowners in Palm Beach County are likely questioning continued reports that the economy is turning around.

They are homeowners now facing foreclosure.

The Palm Beach County Clerk's Office tells BocaNewsNow.com that 1284 new cases of foreclosure were filed in January of 2012. That's up 12-percent from from the 1155 cases of foreclosure filed in December.

 

“We continue to see a steady number of new foreclosure cases filed with us,” Clerk Sharon Bock said. “We certainly haven’t seen the volatility in the number of new cases filed as we have in previous years.”

 

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 the keeper of Palm Beach County’s official records, and records all deeds and mortgages submitted for recording in Palm Beach County.

There were 5,925 deeds recorded in Palm Beach County during January, a 2.62-percent increase from 5,774 deeds during December 2012, and a 21.36-percent increase from 4,882 deeds recorded in January 2012.

There also were 4,048 mortgages recorded in January, a 24.21-percent increase from 3,259 mortgages recorded in December 2012, and a 55.99-percent increase from 2,595 mortgages recorded in January 2012.

Foreclosure Sales Results

There were 1,107 properties sold during January’s online foreclosure auctions, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 846 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, and 261 were sold to a third party. One property did not sell at auction.

There were 531 sales canceled in January, out of 1,639 advertised for sale. The cancellation rate was 32.4 percent, compared with 35.57 percent in December.

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.