Foreclosures declined by 4 percent in October compared to September, putting the level of foreclosures exactly where it was a year ago, one in every 389 homes in some stage of foreclosure, according to foreclosure sales site RealtyTrac.

RealtyTrac CEO James Saccacio said October was the twentieth consecutive month where more than 300,000 U.S. homeowners received a foreclosure filing. “The numbers probably would have been higher except for the fallout from the recent 'robo-signing' controversy,” he said.

Five states account for more than 50 percent of the national total: California, Florida, Michigan, Illinois, and Arizona.

Source: RealtyTrac (11/11/2010)