Dennis Toomey's (dennis2me) Blog

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Real Estate Agent - RE/MAX Action

ARCHIVED BLOG POSTS

2011 

IL – We often get asked that question. Some people think that since they are walking away from a large upside down mortgage, then the bank won’t approve it. That usually isn’t true. I wanted to put together a few examples of people the Stop Foreclosure Institute has helped with a short sale. Disc...
01/20/2011
IL – This is a continuation of a former article about short sales. We often get asked if a short sale is even worth the effort. “Why don’t I just let the bank have the property”, sellers tell us. “I don’t ever think I’ll be able to fix my credit to be able to buy another house.” Discover how oth...
01/18/2011
IL – We often get asked if a short sale is even worth the effort. “Why don’t I just let the bank have the property”, sellers tell us. “I don’t ever think I’ll be able to fix my credit to be able to buy another house.” Discover how other sellers successfully did a short sale to avoid foreclosure ...
01/18/2011
IL – The Stop Foreclosure Institute recently received a question from Luis. Here is Luis's Question. "I am working on a loan modification on my home. I just don’t want to be upside down and want a fair interest rate. Why should I pay on a mortgage that is twice as much as my home is worth, plus ...
01/17/2011
IL – The Stop Foreclosure Institute recently received a question from Phil. Here is Phil's Question. "I am a California Resident but have 3 distressed Florida Properties pending foreclosure. Under Florida law a creditor cannot garnish wages. Will investor pursue deficiency? If yes, will they fol...
01/13/2011
IL – The Stop Foreclosure Institute recently received a question from Brent. Here is Brent's Question. "If we are not behind on our mortgage but can't sell our home through a normal sale because we don't have any equity, can we still qualify for a short sale? We would like to sell this property ...
01/13/2011
IL – The Stop Foreclosure Institute recently received a question from Chad. Here is Chad's Question. "I own a condo in Hackensack, New Jersey. I purchased in 2007, pre-construction for $375k and have a mortgage balance of $337k. I have been trying to sell my unit for upwards of 2 years with no s...
01/11/2011
IL – The Stop Foreclosure Institute recently received a question from Mau. Here is Mau's Question. "Is it legal for a short sale seller to buy the house he is selling on short to reduce his mortgage loan?” asked Mau. Discover how other sellers successfully did a short sale to avoid foreclosure b...
01/11/2011
IL – The Stop Foreclosure Institute recently received a question from Dave. Here is Dave's Question. "I bought several investment properties at the peak of the market. The homes have dropped in value by almost 40% and I am losing money on the rent every month. I am sick of writing a check every s...
01/10/2011
IL – The Stop Foreclosure Institute recently received a question from Steve. Here is Steve's Question. "I divorced six years ago. We had had our home on the market for some time, but it wasn't selling. My ex needed money to buy another home. Since it wasn't selling, we refinanced and split the e...
01/07/2011
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