Banks are quietly declining to take possession of properties at the end of the foreclosure process, most often because the cost of the ordeal -- from legal fees to maintenance -- exceeds the diminishing value of the real estate. The so-called bank walkaways rarely mean relief for the property owners, caught unaware months after the fact, and often mean additional financial burdens and bureaucratic headaches. |
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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.