Foreclosure in Palm Beach County are Continuing to Decrease
Palm Beach County experienced a new 12 percent decrease in foreclosures in a matter of 12 months.
Palm Beach County has a small increase in new foreclosure cases in September; however, they were still lower than in September of last year. This is all according to the Clerk & Comptroller’s latest statistics in Palm Beach County. In September, 484 new foreclosure cases were files. 480 cases were filed in August providing a 0.83 percent increase but there was an 11.5 percent decrease in comparison from the 547 new cases that were filed September 2013.
From September of last year to September of this year, recorded deeds increased but the number of mortgages and deeds from August to September of this year decreased. In August there were 6,083 deeds recorded and in September 2014 5,804 deeds were recorded which was a 4.6 percent decrease; however it was a 3.4 percent increase from September of last year which only recorded 5,614 deeds. During September 2013 there were 3,379 mortgages recorded and in September 2014 there were only 3,036 mortgages recorded giving us a 10.2 percent decrease; however in August there were 3,204 mortgages recorded, which is a 5.2 percent decrease from August to September.
According to Grant Street Group, the developers of ClerkAuction, 782 properties were sold in September at auction, and 631 of those were purchased by the plaintiff who is usually the bank or mortgage company. The remaining 151 were sold to third parties. 1,268 properties were scheduled for foreclosure sale but 486 of those were cancelled in September. The cancellation rate was the same as it was in August at 38.3 percent. From motions to judgments to certificates of title the Clerk & Comptroller’s office facilitates all documents that are foreclosure related.
If you have questions about Foreclosure, Loan Modification, Bankruptcy, Short Sale, or other alternatives, please feel free to call my office at 888-886-0020, send an e-mail to emil@fleysherlaw.com, or complete the contact form below.
