Posted on Thursday, January 13, 2011
Palm Beach County saw a 37 percent decline in the number of foreclosures filed last year compared with 2009, marking the first year-over-year drop in foreclosure filings in five years, according figures released Wednesday by the county clerk’s office.
The office said there were 19,840 foreclosure cases in 2010, down from 31,678 in 2009.
The office also reported an increase in canceled foreclosure auctions. More than 1,000, or nearly half of the foreclosure auctions scheduled for December, were canceled. The average cancellation rate for 2010 was about 36 percent.
About 1,150 properties were sold through the clerk’s online foreclosure auction in December. Of those properties, 980 were sold back to the lender, while 170 were sold to third-party bidders, according to Grant Street Group, which oversees the clerk’s online auctions.
Polyana da Costa DAILY BUSINESS REVIEW