Dennis Toomey's (dennis2me) Blog

IL – The Stop Foreclosure Institute recently received a question from Chuck. Here was his question. “I'm trying to short sale. I received a note from my Insurance agent that my Homeowners insurance will be cancelling as of this month because the insurance company went under. My insurance agent t...

IL – A good short sale realtor will mean the difference between success and failure on your short sale. Here are the qualities that make a good, effective short sale realtor. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Persistence. Short sales ...

IL – We often get asked if a short sale is even worth the effort. “Do I need to have my short sale “Approved” by my lender before I put my home on the market?” one seller asked us. “When I called my lender they wouldn’t talk to me about my short sale. I am concerned that they might do that when ...

IL – Working to convince a bank to approve a short sale is what I do every day. I work with lenders on a daily basis. I understand the importance of starting the process in a way that is likely to succeed with the lender’s loss mitigation department. Click here to discover how other sellers succ...

IL – Most state governments have determined that the practice of offering consulting services to those with delinquent mortgages presents an opportunity for abuse. You don’t need to pay any consulting fees to get the help that you need to resolve your unpaid loan. Click here to discover how othe...

IL – Patience, persistence, and a lot of experience is required to convince a lender to approve a short sale. It is a process with many steps. Do “NOT” allow a buyer to work directly with your lender! Don’t let the buyer speak for you. You will be required to provide so much financial informatio...

IL – Mistake #1: Deeding your property to a third party without confirming that your debt has been paid off. Deeding your house to someone else is one way to avoid foreclosure. However, there are some things you need to do before you make a decision to deed your house to someone else in order to...

IL – A home owner thinking of a short sale recently asked us why they should short sale versus just walking away and letting their lender foreclose on the home. We gave them the normal answer: “It’s much better for your credit.” That was the first thing that popped into our head. But, I knew the...

IL – If you are selling your home, then ask the buyer to write a letter about why they want to purchase the home. If you are a buyer, then write that letter. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. The listing agent will submit that letter ...

IL – We got a short sale approved yesterday. This file was a fiasco from day one. Despite the incompetence we suffered, we got the file approved thru persistent follow up. The first lender handling the file was incredibly incompetent. Their short fax number didn't work. We mailed the short sale ...