“Coming Back from the Dead”
Those were the words used by this couple that had a foreclosure and bankruptcy in their past. At the advice of friends (they had a similar history), they recommended a conversation with me may help. So many that have gone through this kind of experience are shell shocked and have tremendous fear and shame. Many are embarrassed to discuss this history and are uncomfortable having anyone look at their credit report. The fear of being rejected for credit or a mortgage is like having an elephant in the room. Many that have gone through these financial issues, want to own a home or own a home again, so getting them to discuss what is possible can be a real challenge. This was the case with these two folks. When I sat with them, they said they know they need to come back from the dead. They told me in the last three years, they did not allow anyone to run their credit, except for a vehicle they needed, they were afraid to see what it would looks like. They gave me permission to pull a credit report. It turned out there were two different car loans, that was it, but fortunately all the old history showed that it was included in the BK. They both showed scores in the high 600’s. They were currently paying $1600 rent, about what a mortgage payment would be and had saved a good amount of money as they were not spenders. For them this all started with both of them losing their jobs, within 4 months of one another. When I was done, we discussed what an estimated mortgage payment be. I eventually qualified them for a mortgage. When they were leaving they said, “We are coming back from the dead”. There are many folks in this situation, that want to own a home instead of paying rent, hopefully they will talk to someone that can help them with next steps and home ownership.
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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
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.
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