“It’s Never Fun Telling Someone They Can’t Qualify”

“It’s Never Fun Telling Someone They Can’t Qualify”




I did a refinance for this couple and saved them nearly $1000 per month. They actually had two high interest rate mortgages and a few credit cards. I have relieved a lot of stress for them, but now they also wanted to purchase a lake house.


Unfortunately the math doesn’t work for them to accomplish the goal of buying the property that they wanted. I just am not willing to do what is not in the client’s best interest. Sure, they said they understood but I knew they were very disappointed:


Hi Joe,


Thank you for getting back to me on Friday. We also appreciate the help with the refinance of our Pomfret house and your honesty about the financing for the lake property. If there are any breakthroughs and you discover a lender whose criteria we meet please let us know.


We wish you and your family a great holiday season and please extend best wishes to your staff.


Warm Regards


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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 30 commentsJoe Petrowsky • December 10 2015 06:41AM


That is too bad, but it sounds like you were able to do it w/ dignity and respect.

Posted by Women of Westchester Working Together, Women helping Women get ahead (Women of Westchester Working Together) almost 3 years ago

To be brutally honest takes courage and the right thing to do. You are a man of strength and courage, plus you tell the truth and believe in integrity. You have all the characteristics of what it takes to run a country - too bad you weren't running for President, I'd vote for you!

Posted by Patricia Feager, Selling Homes Changing Lives (DFW FINE PROPERTIES) almost 3 years ago

Hi Joe.  My question here would be, if they did get another loan, do they have the income to actually afford it?

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

Good morning Joe.  Well not all news is always good news.  It happens from time to time, it was just their time.

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

No for now is not no forever....and maybe a less expensive lake home or other changes in their financial picture will make another purchase possible.

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

Hi Joe.  Clearly these folks have no financial discipline.  You saved them a future foreclosure and more stress.

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

Gabe Sanders was absolutely on point. Some people just don't understand that they shouldn't take on more debt! They can't afford it!

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

Good morning Joe. It is hard to say "no" but it feels good when you look in the mirror! Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) almost 3 years ago

Good morning Joe Petrowsky,

It's never easy delivering bad news but its always better to set proper expectations from the beginning.

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) almost 3 years ago

It's never fun telling someone they can't qualify and it's never fun hearing it either Joe.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) almost 3 years ago

Joe, good for you...I too am finding the troubles of 10 years ago are beginning to surface again with buyers...no emergency funds, can't wait to buy, can't afford truly to buy and I am not the right agent for them.

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

Good morning, Joe. Nothing more important in our professions than to be honest with our clients. When they know we've gone to the limit to help them, but can't they don't resent the honesty.

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

Good morning Joe.  I don't think anybody faces rejection well. Perhaps, they can do something to clean up their credit.

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) almost 3 years ago

Good morning Joe. Do the right thing is often difficult but necessary.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) almost 3 years ago

Joe Petrowsky I must agree with you on this. Disappointments are not well-received. That is just human nature, but unfortunately, we all seem to get blamed for being the messengers.

Posted by Sandy Padula and Norm Padula, JD, GRI, Presence, Persistence & Perseverance (Realty National) almost 3 years ago

Joe, now that they know, they can save toward the lake house.

Posted by Rebecca Gaujot, Realtor®, Lewisburg WV, the go to agent for all real estate (Vision Quest Realty, Martha Hilton, Broker) almost 3 years ago

Joe, sometimes buyers are not ready to take on a purchase financially, and need time to pay down debt.

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) almost 3 years ago

Joe Petrowsky The operative word is "yet."

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) almost 3 years ago

Makes you wonder when the idea of buying a vacation home started to formulate for them, Joe Petrowsky.   And proves just how life-changing the savings and stress-relief you provided can be ...


Posted by Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) almost 3 years ago

They will thank you in the long run.  At least you saved them a chunk of dough with the refi.

Posted by Belinda Spillman, Colorado Living! (Aspen Lane Real Estate Colorful Colorado) almost 3 years ago

Joe - being frank and honest is the best policy.  Of course, I know you also educated them on why.  Maybe things will change.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) almost 3 years ago

Financial reality is sometimes difficult for consumers to accept but you are actually protecting them.

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


The facts are the facts . . . . and we have to do what has to be done.

Good luck and success.

Lou Ludwig

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

You have some great stories to share, Joe. I know they can't all have happy endings, though. 

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

Joe by saving them the $1,000 per month you relieved them of a lot of financial stress, but they seem to like financial stress because their first thought was to get right back over their heads by purchasing a lake house.

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

Too bad Joe, it happens. Hopefully they can clean up the credit and do it again on another day with more successful results.

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

You always do the right thing for your clients. Thank you for sharing.

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

Hi Joe --- I echo the comment by Bill Roberts --- not yet but it still can happen.

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

You did the right thing Joe Petrowsky .   If the lake house was going to be too much, they probably would have lost both properties in the long run and that would not be serving the client's best interest.   Kudos to you.

Posted by DEANNA EARLY - ( NMLS #268590 ), Virginia Mortgage Loan Originator (American National Bank and Trust) almost 3 years ago

Hey, I just did a lease/option on our own home for our highend buyers, maybe that's possible in the meantime? The appraiser sabotaged the loan, is what another loan officer told our buyers. They also have their 1.5mill property up for sale and plunked down a sizable chunk of money, so it's all good. 

Just a thought! You know how I feel about getting someone their lakehouse. 

Posted by Gayle Rich-Boxman Fishhawk Lake Real Estate, "Your Local Expert!" 503-755-2905 (John L Scott Market Center) almost 3 years ago