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REO - Bank Owned - Watch out for lost paper

It seemsincredible, but banks are not the best at being careful. We sure do seem to find the bad ones. In the last four REO deals we have done, each one has a common characteristic -- they lose paperwork. I now keep copies of everything close at hand, knowing there is a good chance that I will have to send the same material to the bank - again. Three times for the same paperwork is my record - but today I may even break that record. Needless to say my sympathies do not lay with the "poor banks". So be warned - be ready to send paperwork more than once. So Sad.

Posted Monday Dec 08