“Attorney tells his client, If You Don’t Close by October it May NOT Close this Year”

“Attorney tells his client, If You Don’t Close by October it May NOT Close this Year”


This is not the first time I have heard a client make this kind of statement. These kinds of statements to prospective home buyers are pretty foolish.


Scott was a bundle of nerves when we met as a result of hearing his attorney say, that the new guidelines will slow down the closing process by months. I get concerned when statements like this are made and it is obvious that this attorney is not prepared for these guidelines. Unfortunately it sounds like the learning process will be at the expense of his client.


I am hearing some bankers, loan officers, Realtors, Paralegals and Attorneys just panic when they bring up TRID. Folks, we will all be fine. We will all survive October 3rd and beyond for the sake of our clients. Don’t freak them out. They will be a reflection of our attitude.


I know one thing for sure, I’m ready. Does that mean I will do it all perfectly right away, probably not, But no matter what we’ll work through the process.


Are you prepared?


Image courtesy of stuartMiles/Freedigitalphotos.net

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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



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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.

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Comment balloon 25 commentsJoe Petrowsky • September 18 2015 08:03AM


  We are confident that the Y2K of the mortgage industry will not be the T2K some people forecast....those who are don't know should remain silent...not an oft used skill by those who like the sound of their own voice.

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce (EXP Realty 414-525-0563) about 3 years ago

Yes, that does sound like the person is in panic mode.

That being said, putting TRID aside, it often does take a long time between offer and close, esp here in NY.  So, for those that really need to close by end of year (esp for tax reasons), getting the offer agreed to by then is a good thing.

Posted by Debbie Gartner, The Flooring Girl & Blog Stylist -Dynamo Marketers (The Flooring Girl) about 3 years ago

Hi Joe.  Trid is going to be nerve racking for you guys.  We just have to prepare buyers and sellers of the possible time issue.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) about 3 years ago

Good morning, Joe Petrowsky  that atty added fuel to the fire....and I'm sure there will be many who do that.... 

Posted by Barbara Todaro, "Franklin MA Homes" (RE/MAX Executive Realty ) about 3 years ago

There isn't all that much for me to do, Joe, other than to advise my clients of the changes and to make sure I use the right folks for the loans and closing.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) about 3 years ago

I agree with Gabe Sanders - other than knowing we can't write contracts that close in two weeks any more! we just have to warn clients and work with the right people - like you and my lender here in DC. 

Posted by Lise Howe, Assoc. Broker and Attorney Licensed in DC, MD, VA, (Keller Williams Capital Properties) about 3 years ago

Good morning Joe.  I'm as prepared as I can get.  I've had several training sessions with our agents about the change.  It's going to happen why not embrace it instead of fighting it.

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) about 3 years ago

I am not worried about TRID. Most agents and lenders are aware of the changes and prepared for it.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) about 3 years ago

These helpers in real estate need to get real!  The attorneys I deal with have been locking down what is needed 3 weeks before closing now & it is getting everyone in sync...do not see the problems except with the buyers who do not listen to their lenders, Joe.

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) about 3 years ago

Joe Petrowsky ~ good morning, Joe... just what we need now! Idiots who aren't prepared and knowledgeable scaring prospective buyers to death!

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Residential Brokerage | Charlotte, NC) about 3 years ago

Good morning Joe,

I will be taking a refresher next week and as you say there will be mistakes but it will get closed sooner than the end of the year.

Make yourself a great day.

Posted by Raymond E. Camp, Licensed Real Estate Salesperson Greater Rochester (Howard Hanna Real Estate Services) about 3 years ago

Joe, that sure sounds like more drama than needed!  Sure, it will be different, but like all changes, we shall get through this too! 

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) about 3 years ago

Hi Joe -- maybe those who believe this to be true won't be in business after October --- that's okay with me and others like you who know everything will be just fine...

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) about 3 years ago


And I second Michael Jacobs comment...Some folks will always find something to panic about and this sounds like one of those times where the government has given them a perfect excuse.  A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) about 3 years ago

Hi Joe, the attorney is over reacting. Yes there are new rules but I see everything going on as usual.

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) about 3 years ago

Joe this is something pretty irresponsible to say....sounds to me that person has either not studied the changes or needs to be in a different profession....Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) about 3 years ago

Joe not a lot changes for us as LO's, the major change will be on the Attorneys, and if an Attorney is talking like this, if I were that Borrower I would be looking for another Attorney who was confident of being ready for what is coming.  There may be delays, but If everyone works together, the delays will be kept to a minimum.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 3 years ago


Thanks for sharing your reassurance that we will be able to close our contract after October 1, 2015.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) about 3 years ago

Hello Joe Petrowsky 

Change is the only constant for us...this too shall pass and then the government will come up with some new rules. 

Posted by Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless! (Lisa Von Domek Team) about 3 years ago

You are so right on with your statement that we will get through this. We just need to be prepared and write for longer closings. It's really not a big deal. 

Posted by Debbie Laity, Your Real Estate Resource for Delta County, CO (Cedaredge Land Company) about 3 years ago

That sounds like a very insecure Attorney who doesn't have much confidence in himself and an alarmist too! We need more people like you instead of those people who get people to panic because the sky is falling. 

Posted by Patricia Feager, MBA, CRS, GRI, Selling Homes Changing Lives (DFW FINE PROPERTIES) about 3 years ago

It is scary to see this kind of bad advice coming from a lawyer. He is already making excuses for his lack of preparation for the changes. 

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) about 3 years ago

I have heard some folks really scared by all this. I am like you Joe, we will survive and there is not reason to panic.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) about 3 years ago

That was an attention getter for sure! 

Posted by Jim Crawford, Jim Crawford Atlanta Best Listing Agents & REALTOR (Crye-Leike REALTORS®) about 3 years ago

Joe, it will be a learning curve but if all work carefully and allow enough time it will ultimately get done.

Posted by Ed Silva, Central CT Real Estate Broker Serving all equally (RE/MAX Professionals, CT 203-206-0754 ) about 3 years ago