Dennis Toomey's (dennis2me) Blog

IL – The Stop Foreclosure Institute recently received a question about renting a home in foreclosure. Short Sale Question: I am selling 2 of homes that are short sales. I would like to rent the homes during the foreclosure process. I will continue to pay the home owners association fees. I will ...

IL – Another agent recently e-mailed the Stop Foreclosure Insitute. They were having a hard time with a short sale on a Fannie Mae Loan. Get my Free, Step By Step Loan Modification Guide by clicking here. Here is an excerpt from the agent's e-mail. "I spoke with Josh @ Fannie Mae. He said that on...

IL – After yesterday’s blog post, I am sure that some people were wondering why a HELOC gets zero from a foreclosure. Let me explain why. Get my Free, Step By Step Loan Modification Guide by clicking here. When a property is foreclosed upon, it is auctioned on the courthouse steps. Let me give y...

IL – The Stop Foreclosure Institute recently received a question about short sales. Here is the question. “What is your experience with Chase Heloc's? I have a HELOC that is a 2nd mortgage. Citi (the 1st) will give them 6% or approximately $3000. Chase's collection agency is saying that they wan...

IL – This is a common myth that is promoted by people that do not understand lenders or the foreclosure process. However, it's not true. Get my Free, Step By Step Loan Modification Guide by clicking here. Many homeowners have short sold their home and never missed a payment. The lenders will appr...

IL – We at the Stop Foreclosure Institute receive emails all the time that go something like this "The Bank’s Short Sale Problems are not that simple. A bank can't afford to write off too much loss at once. Also, their investors may not approve the short sale, because they can't afford to write ...

IL – We at the Stop Foreclosure Institute receive calls all the time that go something like this “I have fought the bank for year and half, and after paying thousands and thousands I have decided to short sale, can you help me”? Get my Free, Step By Step Loan Modification Guide by clicking here....

IL – The Stop Foreclosure Institute recently received a question from Cathy. Here was her question. “I am trying to buy a house that is a short sale. It has been 4 months and we have heard nothing. The agent did mention that they are now on the 2nd negotiator and still haven’t heard from the neg...

IL – The Stop Foreclosure Institute received a few responses from yesterday’s blog post. Most of the questions went something like this. "I think a lender would be stupid to approve an investment property short sale for a wealthy person. If I was the lender I would sue them for the loss. Jan.” T...

IL – The Stop Foreclosure Institute recently received a question from Aaron. Here was his question. "I recently purchased another home and make a good living. However, I can’t afford to pay both mortgages. (The house won’t rent for half of the current payment.) An agent told me that the house is...