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More than 2M homes in foreclosure process

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The number of homes sold on courthouse steps or repossessed by banks at the end of the foreclosure process dropped 35 percent nationwide in October, according to mortgage-data aggregator Lender Processing Services.There were about 80,000 foreclosure sales and bank repossessions in October, LPS said, down from 124,000 in September, which was a high for the year. The slowdown -- fallout from the robo-signing controversy -- helped boost the total number of homes in the foreclosure process for the fourth consecutive month, to 2.09 million, LPS said.Another 4.95 million homeowners were behind on their payments but not yet in foreclosure, LPS estimated. The number of newly-delinquent loans ticked up for a third consecutive month, to 1.92 million, or about the same level as a year ago. Another 794,000 first-lien loans were 60 days delinquent, and 2.24 million homeowners were behind on their payments by 90 days or more.All told, LPS estimated that about 7.04 million homeowners had missed at l...