Palm Beach County Foreclosures Are Rising—What Homeowners Need to Know
By Todd Burrows, Real Estate Advisor
Foreclosure activity is increasing across Florida and Palm Beach County, signaling a shift from the historically low levels seen after the pandemic. While today's market conditions are far healthier than those experienced during the 2008 housing crisis, the rise in foreclosure filings are a reminder that many homeowners are feeling the effects of higher insurance costs, absurd property taxes, and consumer debt with credit card interest rates at levels that, in my option, should be criminal.
According to ATTOM's latest foreclosure reports, Florida’s has one the top foreclosure rates in the nation. In Q1 of 2026, Florida recorded one foreclosure filing for every 750 housing units. ATTOM also reported that foreclosure activity has increased year-over-year for twelve consecutive months.
ICE Mortgage Monitor reports similarly on the national delinquency rate, which held steady in April at 3.35% of homes in seriously delinquent status.
Palm Beach County has a similar trend. Data from the University of Florida's Shimberg Center shows foreclosure filings increased significantly after pandemic-related protections ended, rising from 634 filings in 2021 to 1,956 filings in 2023. While foreclosure activity remains well below Great Recession levels, the upward trend deserves attention, especially with the default rates of FHA mortgages climbing significantly. where serious delinquencies are up 105,000 from a year ago, driven in large part by delays in cure timing among loans in trial payment plans.
As reported by the Ice Mortgage Monitor, the overall rise in serious delinquencies is largely attributable to FHA loans, where serious delinquencies are up 105,000 from a year ago, driven in large part by delays in cure timing among loans in trial payment plans. It’s important to recognize the manner in which loan delinquencies are reported has changed. Loans used to be considered “cured” when homeowners enter into a trial payment plans. What changed is they do not consider a loan “cured” until the borrower completes the trial payment plans.
The good news is that today's housing market is fundamentally different from 2008. Most homeowners have built substantial equity due to years of appreciation and stricter lending standards. As a result, many homeowners facing financial hardship have options available before losing their home to foreclosure.
As a former Loss Mitigation Specialist and REO Manager who worked directly with lenders and distressed homeowners, I have seen that many homeowners wait too long to seek help. The earlier you act, the more solutions are typically available.
Potential options for a successful resolution may include:
Loan modifications
Repayment plans
Forbearance agreements
Short sales
Selling the property and preserving equity
Refinancing when available
As a homeowner what you need to know is this. If you receive a Notice of Default, Lis Pendens, or foreclosure complaint, do not ignore it. Foreclosure timelines move quickly, and delays often reduce available options as the legal fees pile up.
Homeowners who know their current equity position are positioned to take the first step toward towards an informed decision. In many cases, especially now, homeowners can sell before foreclosure and retain their hard earned equity, rather than lose it to legal fees, penalties, and the expense of a distressed sale.
Todd Burrows is a Palm Beach County REALTOR® with 1,400+ real estate transactions and a background in loss mitigation, foreclosure prevention, distressed properties, divorce, probate, and complex residential sales throughout South Florida. He is your competitive advantage when buying or selling real estate.
