“Yes, I feel I do have to Apologize”

“Yes, I feel I do have to Apologize”



Thank you Joe. Appreciate you taking your time and talking me off the cliff, but you have no need to apologize for my current loan officer as he has no clue. I am not sure I will be able to get an extension for the home we have under contact. Will let you know.

Once again, thank you



Actually I did have to apologize, as stupid stuff that loan officers do has an effect on all of us that do a good job and know what we are doing.

There were so many mistakes in this transaction:


1) The wife was told she could be on the mortgage even though she was a title holder on a property that was currently in foreclosure. She was told because she included the property in a bankruptcy 2 years ago she was off the hook and could be on a new mortgage. NOT TRUE AT ALL

2) They were told that the husband could use future income to qualify for a mortgage. He is supposed to get a raise in three months. NOT TRUE AT ALL


3)      The husband has an inheritance coming in a month in the amount of $17,000. They were told that if the money could be paid out by $500 per month that would help his debt ratio. YOU WOULD THINK THE ESTATE WOULD WANT TO SETTLE ITS BUSINESS AS QUICKLY AS POSSIBLE.


As long as these buyers can get an extension to purchase the property I have let them know that this transaction can be done in the husband’s name with his mother as a co-signer. I have offered to explain what is possible to both agents and the seller. Hopefully these folks will be given the opportunity.


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 10 commentsJoe Petrowsky • September 26 2016 12:56PM


Hello Joe.  Another person that has found you to be their 'go to' lender.  I doubt it will be too long before we are seeing a referral post from this very client.  mark

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

Joe: The more you educate consumers, the more that take the correct path to getting a mortgage and becoming homeowners.

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

It's great they tatlked to you and found out what the real story was.

Posted by Kat Palmiotti, The House Kat (406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty) over 4 years ago

It makes sense to deal with a professional.case in point.

Posted by Peter Mohylsky. Beach Expert, THE BEACH IS OPEN (PrimeSouth Properties) over 4 years ago

Joe Petrowsky Another timeless post. BTW; thanks for speaking with my client in NYC. He regrets using the lender he did and he will be purchasing another property within the next few months and plans on calling only you!

Posted by Sandy Padula and Norm Padula, JD, GRI, Presence, Persistence & Perseverance (HomeSmart Realty West & Lend Smart Mortgage, Llc.) over 4 years ago

Good morning Joe. Not all advice is always good advice. Enjoy your day!

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

Good morning Joe. It is difficult when we see ineptness and are embarrassed because of it even if it wasn't of our doing.

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

Joe- all I know is that I would want someone such as yourself if I were looking for a mortgage. It's a shame that some people provide misinformation. 

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) over 4 years ago

Always fun to clean up the messes made by others.  Sounds like the other person called Quicken! ; )

Hope you'll be able to get these folks a home with some real guidance this time around.

Posted by John Meussner, #MortgageMadeEasy Walnut Creek, CA 484-680-4852 (Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA,) over 4 years ago

Joe, it's amazing what the scuttlebutt is about loans. I have one client right now who was looking at totally unacceptable properties that she felt might be an investment for which she could get a loan. Not so. I introduced her to my loan guy who explained the process and she's approved for a figure where she can buy a really nice property.

Posted by Hella M. Rothwell, Broker/Realtor®, Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea over 4 years ago