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Robo-signing slowdown slashes November foreclosures

Utah foreclosure rate: No. 2 in nation

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Foreclosure activity fell sharply last month, partly due to foreclosure freezes by some major lenders, according to a report by foreclosure data site RealtyTrac. Some 262,339 U.S. properties received a foreclosure filing last month, a 21 percent decrease from October and a 14 percent decrease from November 2009. Both declines were the highest recorded since RealtyTrac began publishing its U.S. Foreclosure Report in January 2005, the company said. Nationally, 1 in 492 housing units received a default notice, scheduled auction or bank repossession last month. After 20 straight months where more than 300,000 U.S. homeowners received a foreclosure filing, November was the first month to go below the 300,000 mark since February 2009, said James J. Saccacio, RealtyTrac's CEO, in a statement. "While part of the decrease can be attributed to a seasonal drop of 7 to 10 percent that typically occurs in November, fallout from the foreclosure robo-signing controversy forced l...