The county clerk’s office said only 587 new foreclosure actions were filed last month for a year-over-year drop of 56 percent, the Palm Beach Post reported. The filings fell three percent from December 2013. January marked the fourth consecutive month that Palm Beach County foreclosure actions declined.
The drop in new foreclosures is attributed to a state law that went into effect last summer. The law requires lenders to have specific documents included with initial foreclosure filings and affidavits vouching for the accuracy of the documents. [Palm Beach Post] — Eric Kalis