Robo-signing slowdown slashes November foreclosures

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.