“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
Jodie.
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
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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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
Joe: The more you educate consumers, the more that take the correct path to getting a mortgage and becoming homeowners.
It's great they tatlked to you and found out what the real story was.
It makes sense to deal with a professional.case in point.
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!
Good morning Joe. Not all advice is always good advice. Enjoy your day!
Good morning Joe. It is difficult when we see ineptness and are embarrassed because of it even if it wasn't of our doing.
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.
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.
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.