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Community Development

Bank Walk-Away Homes

If your neighbors move out, and nobody moves in -- sometimes for years -- you may have a zombie home in your neighborhood. Bank walk-aways, or zombie homes, are an elusive problem creating neighborhood blight. Properties turn into zombie home when a servicer does not complete the foreclosure process after initiating a foreclosure action.

During this process, the individuals or families living in these homes vacate the property, sometimes due to lender intimidation and other times inaccurately assuming the servicer has taken control of the property. Regardless of the reason for the families leaving the property, the servicer postpones the foreclosure sale and a zombie house now populates the neighborhood. The homes are vacant, often quickly become dilapidated, and their ownership and futures are unclear.

If you think there's a zombie foreclosure in your neighborhood, take action with these resources.

  • Fifth Third Bank
    Fifth Third Bank
  • First Horizon
  • Kate B Reynolds Charitable Trust
  • Mecklenburg County
  • North Carolina Housing Coalition
  • North Carolina Housing Finance Agency
  • Pacific Western Bank
  • Pinnacle Financial Partners
  • The Rockefeller Foundation
  • Truist
  • The University of North Carolina at Chapel Hill
  • Wells Fargo
  • Equal Housing Opportunity
  • Bank of America
  • Blue Cross and Blue Shield of North Carolina Foundation
  • City of Durham Economic & Workforce Development
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