“Not just One Answer to his Question”

  “Not just One Answer to his Question”




We have established June 3 as our closing date with the attorney, seller, etc. thank you for all your help keeping things moving along.


The best answer is that the first mortgage payment would be due August 1st, having said that the client would have to pay the interest from June 3rd until the end of the month. Whenever possible this is a good solution as this buyer doesn’t have to think about making a mortgage payment for almost two months.


If the client is tight on dollars we get the lender to not do any prepayment of interest and in this case the first mortgage payment would be July 1st.


We do whatever works best for the client. What way would you prefer?


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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 15 commentsJoe Petrowsky • May 24 2016 06:01AM


We always remind people who may have a lease in place...that they can skip one payment and it makes the transition far easier.

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

Yes, I would think that most would prefer to delay, esp as they often have other moving costs (e.g. moving, painting, floors, swithover costs, etc.).  Good to ask, though.

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

Yes, Joe.  You need to do what's in the best and preferred interest of your clients.  Which is what you are so good at doing.

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 would defintely let the consumer decide which option they preferred, if they were given an option. They have to make the payments.

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (Coldwell Banker Access Realty ~ 478.960.8055) about 4 years ago

This is a good situation to share.

Have a great day and a very special holiday weekend!

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

Good morning Joe,

Whatever is best and what the client wants; which you have done yet again.

Make yourself an astonishing day.

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

Good morning Joe. First payment July 1 would be my choice! But the decision of the customer comes first! Enjoy your day!

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

Good morning Joe. I had forgotten this but you point is well made: it depends.

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

Good morning, Joe --- whatever the decision, it's good to have options.  Especially when explained by an expert like yourself.  

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


This reminds of commercial real estate concessions when leasing offices or stores.  The tenant could either choose the free months of rent or pay it in half for more months of reduced rent.  I did not know that this could be worked out in a loan.  A

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

Joe, Options are a good thing. I like the prepayment where a payment is not due for a month or so. 

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

Joe we never know what works best for some buyers. Best to give them what works for them! Many 1st timers love the idea of no payment for a month or so.

Posted by Anna Banana Kruchten Arizona's Top Banana!, 602-380-4886 (HomeSmart Real Estate BR030809000) about 4 years ago

Joe Petrowsky  I never realized they had a choice ..good information

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) about 4 years ago


What ever works best buyer would the best answer.

Good luck and success.

Lou Ludwig

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

My reblogs and my blog for this morning were not posted at the scheduled times. If you have scheduled blogs or reblogs, you might need to manually post them.

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