12/15/09 San Jose Mercury News: Mortgage lenders cancel more foreclosures in November

"A total of 10,469 scheduled foreclosures were canceled in November throughout California, up 20 percent from 8,741 in October... In Santa Clara County, 337 were canceled, up from 269 in October."

"...there were other indications that foreclosure activity slowed last month. In Santa Clara County, for example, there were 435 foreclosures, down slightly from 476 in October. A total of 938 homeowners received notices of default, down from 1,163 in October, a decline of 19 percent. Notices of default are the first step in the foreclosure process; lenders typically send them when borrowers are a few months overdue in their payments..."

"Statewide, there were 17,795 foreclosures last month, down from 20,052 in October..."

"There were 29,597 California homeowners who got notices of default, down from 36,531 in October..."