“You Did What?”

“You Did What?”



Yes, I’m telling you your credit scores are now too low to get the mortgage to buy your home. One of the many conversations I have with everyone we are doing a mortgage for is to make sure you keep making all of your payments on time.


We had this transaction just about ready to close; the quality control department often times will do a credit report to make sure everything is still good. We started out at a 597 credit score, not great but good enough. When a new credit report was done the score dropped to 528. This lender’s minimum credit score that they will do is 550.


It is never fun to tell someone I can’t get their mortgage closed. I already had a bad feeling as to what happened, below was the response:


So what are you telling me? We can't get the loan? It's over? Most likely it's because we haven't paid anything because we are waiting for our closing on our house! That has to be the reason, we haven't done anything else!


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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.

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 33 commentsJoe Petrowsky • October 19 2015 11:19AM


Good morning Joe. Sounds as if all your counseling went in one ear and out the other. Enjoy your day!

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

Joe Petrowsky ,

People, I have learned, do not listen very well.  They tend to half listen or not listen at all.  

Ann Hayden in Town and Country, MO

Posted by Ann Hayden 636-399-7544, SelectAnn.com (Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri) about 4 years ago

Oh that's terrible. Nothing worse than wasted good advice!

Posted by Wayne and Jean Marie Zuhl, The Last Names You'll Ever Need in Real Estate (Samsel & Associates) about 4 years ago

Joe - haven't paid anything because they are waiting on closing?  That reallhy makes no sense.

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

Good morning Joe.  Duh!! It takes all kinds and sometimes a slap will awaken them to their downfalls.  Hope they got the message

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

Just got my free credit score the other day.....was very happy with how much it has improved, but I know I would still have a problem getting a mortgage if I needed one.  My credit cards are all maxed out after being out of work for three months.

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

tsk.. tsk..tsk.. Oh. boy. How can you tell them Joe that "STUPID" is written on their foreheads?.

Good morning Joe.

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

Oy yoy yoy.  Where is the logic?  Did they not listen?  Or did they not understand?

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

Good morning Joe Petrowsky,

You really wonder where people's brains are when it comes to reasoning! Maria Gilda Racelis is right "How can you tell them Joe that they "STUPID" is written on their foreheads?"

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

Some people do not listen or forget what we tell them.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) about 4 years ago

Gee, when will consumers "get it"? It's always someone else's fault...

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Home and Condo Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) about 4 years ago

Good morning Joe,

Ugh; some prople never learn!

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

Geez. I'm so sorry for them, but sadly this is the logic some people employ. Once a couple that was under contract went out and purchased and new truck, on credit of course. Through those ratios right out the window.

Posted by Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell (Front Gate Real Estate) about 4 years ago

Good morning Joe. This is sad. Some folks just don't understand. Too bad.

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

I don't think they got the message at the beginning. Some people just need more counseling and understanding.

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

Good morning, Joe --- I guess they will be renting for a while longer.  Too bad.  It certainly could have been avoided.   

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 about 4 years ago

utgh.....credit 101 was mssing in their curriculum.

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

Joe Petrowsky That is too bad. Sometimes people need to really listen and understand as they go through the process.

Posted by Donald Hester, NCW Home Inspections, LLC (NCW Home Inspections, LLC) about 4 years ago

These kind of comments leave us shaking our head.  I understand needing a professional.  Certainly someone should understand not paying a bill will result poorly on a credit report.  And in this case why is a BUYER waiting for closing.  They have nothing to gain financially $$$ with the close?  Odd thinking.  Mark

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

That has to be the reason ... you have got to be kidding me! They really think they don't have to pay anything and it won't impact their credit.  Does an IQ test come with a mortgage application?

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

Joe Petrowsky As they say, stupid is as stupid does.

Some are just beyond help.

Bill Roberts

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

This is a great story to share. Those last minute credit checks can be deal killers when the prospective home buyers have done dumb things.

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

OMG!  What were they thinking?  A

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

Some people are their own worst enemies Joe.

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) about 4 years ago

Hi Joe.  As we said life is much stranger than any fiction writer can create.

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

Joe WOW talk about stupid!!!

What were they thinking OH WAITE they weren't.

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

They did WHAT? They stopped making payments, is that what you are saying? They didn't pay any creditors? What the hey . . .

Posted by Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you (RE/MAX Gold) about 4 years ago

Is it what were they thinking, or drinking or smoking!

Posted by Rebecca Gaujot, Realtor®, Lewisburg WV, the go to agent for all real estate (Vision Quest Realty) about 4 years ago

Hi Joe Petrowsky ,  Don't you just love those clients that make their own decisions without asking for your advice?

Posted by Larry Johnston, Broker,Friends & Neighbors Real Estate, Elkhart,IN (Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC) about 4 years ago


Rebecca Gaujot . . . . comments are right on point.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) about 4 years ago

Joe Petrowsky 

I am trying to find the words to comment...but I will have to go with "good grief".

Posted by Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless! (Lisa Von Domek Team) about 4 years ago

It sure sounds like these folks may not deserve to have a home.

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

That is a case of penny wise and pound foolish.  Save a few dollars and not get the home

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