Record Plunge in Foreclosures, Thanks to Robo-Signers
(CNN Money) — The number of foreclosure notices filed in November plunged 21%, the biggest month-over-month drop ever recorded by RealtyTrac, the online foreclosure marketer. Filings fell 14% compared with November 2009. The number of Americans who actually lost their homes to bank repossessions plummeted even more steeply — to 67,428. That was off a whopping 28% from 93,236 in October. Repossessions are down a third since September. The drop in total filings, which include notices of default, scheduled auctions and repossessions, followed a 4% decline a month earlier. RealtyTrac CEO James Saccacio attributed the downtrend to fallout from the recent robo-signing controversy.
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