Organizing Your REO Expenses

REO banks require the agent to turn on the utilities, pay the bill, and submit for reimbursement. It is very important that you keep track of each bill and submit in a timely manner to ensure that you are reimbursed by the banks. During the rush of completing your daily tasks, don't ignore the utility bills by adding it to your already filled and probably overflowing inbox. Separate your utilities and other bills by using hanging trays. Hanging trays can be added to the side of the file cabinet, hanged from the wall, or stored using a vertical rank on your desk. The bottom line is not to mix your bills with other office paperwork. Click Here for a Sample Upon receipt of each bill, add it to the tray for processing and process each bill weekly! Attach a copy of the check to a clean copy of the utility bill. Remember, each utility bill must show the following:

  1. Utility Company Name and remittance address
  2. Utility Account Number
  3. Property Address
  4. Service to and service from dates.
  5. Itemized utility breakdown.


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