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There are still tons of properties owned by banks due to foreclosure (REO's). I'm certainly not for foreclosures on folks with economic problems , but I don't quite get what's wrong with someone turning these houses around after foreclosure and putting them back on the market? Costs to local communities in terms of police & fire protection of vacant property as well as lowering of neighborhood property values is a serious problem that can only be addressed when these properties are back in the hands of new owners.
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