Foreclosures in county down, but leap expected hammer likely to fall.

Byline: Linda Rawls

Feb. 15--Foreclosure filings in Palm Beach County plunged in January, according to a report released Tuesday -- but the good news will be short-lived as home prices fall and inventory climbs, analysts say.

"Buyers are not solvent enough to carry their houses with a negative cash flow for months on end," said Jack McCabe, owner of McCabe Research and Consulting in Deerfield Beach. "They're choosing to turn in their keys."

Nationally, new foreclosure filings in January climbed to the highest monthly total since Irvine, Calif.-based RealtyTrac began reporting them two years ago, said James Saccacio, the company's chief executive.

In recent weeks, major home builders and mortgage lenders have begun citing ballooning inventories of homes and bad loans as the primary …