Create a formula that looks something like this:
Replace({vp_personv42.homestreet}, '\', '')
This will get rid of all instances of the '\' character in the string. If '\' is a legitimate character somewhere else in the string, you can get rid of the last character in the string this way:
If Right({vp_person42.homestreet}, 1) = '\' then
Left({vp_person42.homestreet}, length({vp_person42.homestreet}) - 1)
else
({vp_person42.homestreet}
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