“Some in Our Industry Make Us All Look Bad”

“Some in Our Industry Make Us All Look Bad”

 

 

 

It is frustrating for any of us in the mortgage business that does a good job and is not willing to give our clients advice that is going to put someone in a bad place. This was one of those cases.

 

These clients had been pre-approved. Unfortunately this was a loan that could never be done. The credit scores didn’t work for the type of loan and the debt ratio certainly didn’t work. These folks spent over $1000 between the home inspection and appraisal and ended up losing their $1500 deposit.

 

These folks are first time home buyers and the $2500 was hard for them to lose, hard for anyone quite frankly. I promised them that once they got ready to go house hunting again that I would coach them and give them a positive home purchase experience. They are now ready to take me up on my promise.

 

My name is Leigh XXXXX, you may remember me from a few months ago when I came to you for help with a deal on a home that fell through. We appreciated you trying to help us on such short notice and dire circumstances. My boyfriend and I have taken some time to recoup the losses from the deal and are ready to start house hunting again. This time with a much more realistic idea of what we will qualify for in our heads. I'm writing to you to ask if we could possibly meet to go over our financial status/credit scores/etc. and see what we can get pre-qualified for. We absolutely do not want to find ourselves in the same situation as before so it's very important to us to be given the absolute truth along with some guidance through this process. We will still be working with Ryan XXXXXXX who recommends you strongly. Please let me know if or when you are available. Thanks for your time!

Leigh

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 27 commentsJoe Petrowsky • January 19 2016 03:21AM
“Some in Our Industry Make Us All Look Bad”
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“Some in Our Industry Make Us All Look Bad” It is frustrating for any of us in the mortgage business that does a good job and is not willing to give our clients advice that is going to put someone in a bad place. This was one of those cases. … more
“Will the Value Come in High Enough? ”
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“Will the Value Come in High Enough? ” Hi joe. Any word for us?? I'm making myself so nervous and sick waiting. Thank you In many areas of Connecticut there are still many homes that are upside down or have very little equity. These folks are… more
“Home Inspection has 21 Issues”
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“Home Inspection has 21 Issues” After speaking to the buyer and the selling agent, the seller (bank) is not willing to repair anything. I recommended that we change from a FHA loan to a FHA 203 K loan in order to handle the repairs. I… more
“Should I Ask for Part of the Commission? ”
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“Should I Ask for Part of the Commission? ” Joe, Ok, good to know! There are so many damn details it is so helpful to have experts to advise throughout. I wish we were getting good advice from our agent. Thank you so much! After I got a… more
“Many are not Aware of What is on their Credit Report
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“Many are not Aware of What is on their Credit Repo rt " Joe, The Credence Resource that you have * on my report has been resolved for a long time now, will find paid receipt and not sure why they are reporting to the three bureaus each… more
“NO Thank You”
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“NO Thank You” My company is an expert in lead generation and appointment setting services that delivers these leads through a multi-touch, multi-channel approach to make sure that every booked meeting is fresh, targeted and is ready to sign-up… more
“Refinancing is Not Always a Good Idea”
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“Refinancing is Not Always a Good Idea” Hi Mr. P Wanted to let you know that I just got off the phone with the student loan lady at the bank. It was a great conversation and it looks like my payments will be reduced. Hopefully this will… more
“I was Being Held Hostage”
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“I was Being Held Hostage” I recently purchased a new laptop. All went well transitioning to my new one. This one came loaded with Windows 10, which I was a little hesitant with but it didn’t take me long to get a good handle on it. I thought… more
“Why a Mortgage Broker and Why this One? ”
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“Why a Mortgage Broker and Why this One? ” I could say because I am one. I can say that it’s because I like being independent as I am not part of any franchise or that I have many lenders available to me. I can say that I can get my clients… more
“Appraiser and Loan Officer Screwed Up”
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“Appraiser and Loan Officer Screwed Up” I ’m delighted that our next door neighbor referred you. As we shared with you, we attempted to refinance in May, but the appraisal came in below what we owe. We explained to the mortgage guy that the… more