The Real Deal Miami

Significant drop in foreclosures in Palm Beach County

The number is down 50 percent compared to the same time last year

July 16, 2014 05:15PM

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Foreclosures are down in Palm Beach County.

During the first half of the year, the number is down 50 percent compared to the same time in 2013. There were 3,199 new foreclosures filed between January and June, the lowest amount since 2006 when 1,886 foreclosures were filed during the same period.

June foreclosures were also down 9 percent from May and 50 percent since the same time last year.

After the “fast-track foreclosure” law passed in 2013, banks were allowed to request quicker foreclosures in some cases but had to provide more documentation when filing for one. Experts don’t agree on the role this law plays in the drop in foreclosures. [Palm Beach Post] — Claire Moses

  • John Smith

    Foreclosures in Palm Beach may be down, but Florida is still one of the states with the highest total number of foreclosures. The fast track law might help lower those numbers throughout the next few months.

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