''Foreclosures also grew at a brisk pace, although not as fast, reaching $19.2 billion in August, or an increase of 272.6%. Modifications include modifications and maturity extensions. This is the so-called extend-and-pretend (or delay-and-pray for some of the more skeptical) category, where lenders try to put off a final decision and keep a potential write-down from their balance sheets. The total rose 326.9% to $16.7 billion in August. Foreclosures were up 272.6%, hitting $19.2 billion in August. The REO category increased 22% from January to August. "Considering that resolved loans nearly doubled in the period (92.3%) to $55.9 billion while the full payoff category saw such explosive growth (1,548.3%) to $11.0 billion, there are positive trends represented in this analysis," CRED iQ wrote.'' https://lnkd.in/ejS-DKfh