Dennis Toomey's (dennis2me) Blog

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Real Estate Agent - RE/MAX Action

ARCHIVED BLOG POSTS

2011 

IL – Bankruptcy is one of the scariest words a lender can hear. A bankruptcy filing can stall their ability to foreclose by 6 months, and sometimes as long as a year. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. The lenders know that most bankrup...
03/21/2011
IL – In my opinion, loan mods are very tough to negotiate with large lenders like Bank of America, Wells Fargo, JP Morgan Chase, or SunTrust. The reason is because you are treated like a number. In addition, in most cases the lender doesn’t own your loan. Someone else does. So when they negotiat...
03/18/2011
IL – This is good news or bad news, depending on how you look at it. Here is the good news. If you are a little guy having financial problems, then you are not alone. Even Billionaires are being foreclosed on. One billionaire real estate developer in Florida had several projects foreclosed on. A...
03/17/2011
IL – Here are four specific examples of big bank’s negligence causing a loan owner to lose money. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Example #1: Not giving buyers an answer on a short sale within one week. Home buyers don’t like to wai...
03/16/2011
IL – Here is a shocking fact that most of the American Public doesn’t know. Most mortgages are not owned by banks. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. In addition, most of the huge losses on bad mortgages was not lost by the banks themse...
03/15/2011
IL – The Stop Foreclosure Institute recently received a question from Durry. Here was Durry’s Question. "We have American Home Mortgage Servicing, a loan processor for a Mortgage held by Deutche Bank, adding a 1% “processing fee” that ONLY the buyer can pay at closing. This was never revealed unt...
03/14/2011
IL – Sometimes it seems like short sales are tough. “Don’t try to short sale your house. Short Sales never go thru”, people tell you. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. This isn’t true. Here is how one agent beat the odds and succeeded...
03/10/2011
IL – A negotiator at a large bank tried to mislead a Stop Foreclosure Institute Member. She really got on our nerves. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. You see, we've spent the last few years figuring out all the guidelines for short s...
03/10/2011
This bank's stockholders are probably unhappy after losing $50,000 over incompetence. IL – I have a good story today about another bank losing their shirt because their short sale process is so tough to work with. The bank in question is a large, top 20 American Bank. They actually owned the loa...
03/10/2011
IL – People often wonder why their lender will release their debt in a short sale. Most lenders don't like to release the debt. But, they agree to do it because they know that policy nets them more money. They net more because a home usually sells for more money as a short sale versus after it ha...
03/10/2011
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