Underwater Homes Abandoned By Banks


underwater homes
underwater homes

It's not just homeowners walking away from underwater homes -- so are banks and their mortgage servicers.

Unfortunately for some neighborhoods, the mortgage servicers are abandoning the homes after many of the homeowners have been booted out and the home has sat vacant for months on end, according to a new study by Chicago's Woodstock Institute, which examined foreclosure filings and vacancies in the Windy City.