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South Florida

Foreclosures drop, sales rise in PB County

Foreclosure filings are declining while completed property sales rise in Palm Beach County.

The county had 643 new foreclosures filed last month, down nearly 47 percent from the 1,207 foreclosure actions filed in November 2012, the Palm Beach Post reported. Foreclosure filings are way down from the worst of the Great Recession, as the county had 2,198 new foreclosures in November 2009.

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Meanwhile, 5,310 deeds were recorded in Palm Beach County last month, a gain of more than 22 percent from the 4,343 deeds recorded in November 2012. The number of mortgages recorded in the county dropped from 2,866 in November 2012 to 2,484 last month.

Palm Beach County had 793 properties sold through online foreclosure auctions last month, with 620 properties acquired by the plaintiffs in the foreclosure cases. The remaining properties were sold to third parties. [Palm Beach Post] — Eric Kalis

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Foreclosures