“Some Folks Just Know How to Play the System”

“Some Folks Just Know How to Play the System”




I work very hard for my clients to figure out how to get them a mortgage but in situations like this, I would not be willing to take any of this on. Can you see why this is so wrong? Can you imagine that the note holder has not even started a foreclosure? You just can’t make this stuff up:


You might remember we had a unique situation here in CT. (I CAN ASSURE YOU, I DON’T REMEMBER) We have a mortgage that we haven’t paid in 2 years, most of which time it was because the company would not take payments, not because we couldn’t afford to, it is in foreclosure status right now, but they have not filed anything. It was included with a bankruptcy which discharged Feb 2013, however the lien is about $127k right now. The home was appraised this month at $205k on a 90 day sale and comparative sales are $250-300k which I’m sure it could sell at easily with a few updates—such as new baths, some repairs in our kitchen, carpets, landscaping which we will be doing ourselves, nothing too expensive though. I’d like to try to get a new mortgage for $150,000 so we can put some money into these upgrades, but would be happy right now with just the $127000 to get back to paying it in full each month. With this unique situation, do you think you can help?  Thanks for your time.


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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 • October 19 2015 11:08AM


Good morning Joe. This is one that deserves the response "What part of NO don't you understand?"!! Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) about 4 years ago

Yeah, that doesn't sound like a good bet.  Past behavior is a good indication of future behavior.

Posted by Debbie Gartner, The Flooring Girl & Blog Stylist -Dynamo Marketers (The Flooring Girl) about 4 years ago

Good morning Joe.  I would run not walk away from this one.  Interesting on what is going on in their mind however....

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) about 4 years ago

Doesn't sound like the type of folks I would want to deal with either, Joe.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) about 4 years ago

Joe - I don't totally understand what is is talking about but I know it is not good.  That hurts all of us.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) about 4 years ago

I believe this is what one would call a hot mess! Maybe they deserve something (but not credit)  for their eternal optimism! 

Posted by Lise Howe, Assoc. Broker in DC, MD, VA and attorney in DC (Keller Williams Capital Properties) about 4 years ago

Hi Joe.  So how far from the phone did you run?  Strange people.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) about 4 years ago

Early on in my real estate career I had an "opportunity" that I thought would put me on the map --- in the end it nearly brought me to my knees.  A wise agent had warned me, be careful what you take on.  I am a big believer in trusting "your gut" - and I'd say your instinct to walk away was spot on.

Posted by Jeanne Feenick, Basking Ridge, Warren, Bridgewater Market Expert (NextHome Premier) about 4 years ago

Good Morning Joe: You can easily tell a bull$hitter from the real one. Run Forrest Run!!!


Posted by Maria Gilda Racelis, Home Ownership is w/in Reach. We Make it Happen! (Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington) about 4 years ago

Good morning Joe Petrowsky ,

No is the only possible answer to these people! It does take all kinds out there to make the world go round but these take the cake!!

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) about 4 years ago

Good morning Joe,

If they could afford the payments why put it with the bankruptcy!!!!!

Make yourself a great day.

Posted by Raymond E. Camp, Licensed Real Estate Salesperson Greater Rochester (Howard Hanna Real Estate Services) about 4 years ago

Wow! This is quite a story. You have to wonder about the secured lender and their failure to take action.

Posted by Roy Kelley (Realty Group Referrals) about 4 years ago

Joe, I can see why you are going to back off of this one.  Why would the mortgage company take payments now if they wouldn't before?  That is a load of you know what...

Posted by Evelyn Johnston, The People You Know, Like and Trust! (Friends & Neighbors Real Estate) about 4 years ago

I can't believe they admit to their little game. People like that create problems for the rest that try to pay on time.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) about 4 years ago

Howdy Joe.  This was better than the daily funnies.  Enjoy a productive day Joe.  Mark

Posted by Mark Don McInnes, Sandpoint, North Idaho Real Estate - 208-255.6227 about 4 years ago

Joe, I know we have had a few homes that were in foreclosure, but nothing was done for 2-3 years.  AMAZING!

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (House to Home, Inc. - Denver Real Estate - 720-231-6373) about 4 years ago

Yikes....well good luck with this....the common sense gene seems to have been missing with this home owner.

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce (EXP Realty 414-525-0563) about 4 years ago

Good morning Joe. Too complicated for me to understand and too involved to want to.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) about 4 years ago

Hearing that kind of stuff would make me RUN in the other direction.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) about 4 years ago


Is there anything else these folks would like?  It takes all kinds.  A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) about 4 years ago

Joe Petrowsky These people are a good candidate for a hard money lender. Let them make those payments for a couple of years then re-finance.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) about 4 years ago

Joe - Seriously.  No payment in 2 years ... no payments "not because we could not afford to" ...sounds like victim mentality from someone who got caught in their own game.

Posted by Kathleen Daniels, San Jose Homes for Sale-Probate & Trust Specialist (KD Realty - 408.972.1822) about 4 years ago

Joe I had to role up my pant legs while I was reading what this person wrote because the **** was rising up quickly :) :) :)

Of course the lender is always the blame.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 4 years ago

Joe, I have done short dales where the mortgage had not been paid in almost 4 years, so I can believe that the lender has not started foreclosure

Posted by Ed Silva, Central CT Real Estate Broker Serving all equally (RE/MAX Professionals, CT 203-206-0754 ) about 4 years ago

Wow that is a crazy set of events.


Aaron Robertson 

Authority Property Management

Posted by Aaron Robertson, We Make Renting Simple. (Authority Property Management) about 4 years ago