Zipcode Inequality

In the past few years, banks and the federal government have attempted through counseling, short sales, deeds-in-lieu and principal reduction to cut down on the number of foreclosures that complete the process and become bank-owned (also known as Real Estate Owned or REO properties). Despite these efforts, vacant REO properties still exist in record numbers in neighborhoods across the country, particularly in neighborhoods that had been targeted with predatory loans and in neighborhoods of color.