Foreclosures drop in Palm Beach County

Posted on Thursday, July 17th, 2014 at 4:40pm.

Foreclosures are down in Palm Beach County.

During the first half of the year, the number is down about 50 percent compared to the same time in 2013. There were 3,199 new foreclosures filed between January and June, the lowest amount filed since 2006 when 1,866 foreclosures were processed during the same period.

June foreclosures were also down 9 percent from May and 50 percent between May 2014 and May 2013.

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. 

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