The number of new foreclosures in Palm Beach County increased slightly in September. New foreclosures remain lower than they were at the same time last year, according to the latest statistics from the Clerk & Comptroller, Palm Beach County.
There were 484 new cases filed in September, a 0.83 percent increase from 480 cases filed in August and an 11.5 percent decrease from 547 cases filed in September 2013.
“Our story is the stability in the number of new cases,” said Clerk Sharon Bock. “The numbers for the past 12 months show small increases and decreases – there were no dramatic changes. That’s great news for Palm Beach County.”
The number of mortgages and deeds recorded in Palm Beach County also decreased from August to September. The number of deeds recorded increased when compared with September 2013.
There were 5,804 deeds recorded in September, a 4.6 percent decrease from 6,083 deeds recorded in August; and a 3.4 percent increase from 5,614 deeds recorded in September 2013.
There were 3,036 mortgages recorded in September, a 5.2 percent decrease from 3,204 mortgages recorded in August; and a 10.2 percent decrease from 3,379 mortgages recorded in September 2013.
The Clerk’s office holds all of Palm Beach County’s official records, and records all deeds and mortgages submitted for recording in Palm Beach County.
Foreclosure Sales Results
There were 782 properties sold at foreclosure auction in September. Of those, 631 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, and 151 were sold to a third party.
There were 486 foreclosure sales canceled in September, out of 1,268 scheduled for sale. The cancellation rate was 38.3 percent, the same cancellation rate as August.
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.