Palm Beach County’s new foreclosure cases down 44 percent from April 2013
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.
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.
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.
So in rough numbers there were 6000 typical sales and 900 court ordered sales. These 900 court sales need to be incorporated into the 600o ‘regular sales’ in the near future so about 15% of the inventory being re-sold is REO property.