, especially if things were done improperly, someone has to absorb the losses of those missing mortgage payments...new gov't bailouts for too big to fail JP Morgan or BofA on the horizon?

Make sure if the buyer fails to perform that the earnest money shall be considered in lieu of the execution of this contract and shall be released as liquidated damages and for full settlement of any and all claims or damages.3.

If you paid cash and failed to get title insurance, it may come to haunt you.

The bank had foreclosed on a second mortgage and failed to notify the first.

So many small businesses fail to keep good records and fail to report properly.

I was the highest bidder in an auction but I failed to do a complete check on the property prior bidding.

If all else fails - look through the forums.

When you, as the original investor get into this type of deal, you have to remember that if your assignee fails on the contract, you still have a contract and you still have to buy it.

I had 6 rental properties plus my own house and l liquidated all of them to start up a new business venture that could not possibly fail ( until it failed).

But when all else fails, I mail to the property address.