Trial modifications could lead to delayed foreclosures, analysts say

As October marked the eighth consecutive month to see more than 300,000 U.S. home foreclosures, analysts are speculating whether 2010 could bring a new wave of pain. CNBC’s Diana Olick reported that while the number of foreclosures filed did decline about 3 percent between October and September, this could be due to banks slowing down the foreclosure process. Currently, more than 650,000 borrowers are in so-called “trial modifications,” which could lead to delayed foreclosures down the road if they don’t pan out.