The rumor mill is widely abuzz with the alleged release of "Resident Evil 7," which will serve as the latest iteration of the extremely popular action, adventure and horror fiction series by developer Capcom.

Rumor has it that the game studio will bring gamers back to the fearsome streets of Raccoon City, which also happens to be the setting of the first three well-received games in the franchise.

According to reports, Capcom will once again pit players against the terror baddies Nemesis and William Birkins in "Resident Evil 7" so as to bring back the biggest factor that made the games a big hit.

Ecumenical News reports that long-time fans of the video game franchise think that it has already lost its flair and the main reason that made it popular, which is scaring the living sunshine out of horror-loving players.

In "Resident Evil 7," Capcom can redeem the franchise by setting it in a location very familiar to fans. And it looks like the game studio does not plan on holding back on the scare fest in the event they actually release one.

Talking about the franchise averting from its core, game producer Masachika Kawata said during an interview with Siliconera that "since there's been more spin off titles, I can see how it can be perceived in such a way."

"And of course I believe that we should produce titles that bring out the horror. I'm thinking about it and also preparing for it," he added, with some taking this remark to mean that "Resident Evil 7" is indeed on the way.

According to Highsnobiety, it would not be a tall order for Capcom to release a follow-up to its popular horror game. In fact, the site believes that the greater presence of the franchise in the past months is the company's first step.

With the release of the HD remaster version of the original "Resident Evil" game last year, the nearing launch of the remaster of "Resident Evil 0" on Jan. 19 and "Resident Evil 2" currently being remade, it won't be a stretch for the developer to put out "Resident Evil 7."