“Making on time Mortgage Payments a Must”

“Making on time Mortgage Payments a Must”






I know we wanted to refinance our FHA mortgage this fall and lower our rate and remove mortgage insurance. Unfortunately it may not be able to happen as we had a late payment on our mortgage and our credit scores took a hit. We had been making the payments online as we had done for the last year and a half. We thought the payment went through, but there wasn’t enough in our account. Stupid mistake for sure.

Can you update our credit and let me know how much damage was done and how much longer we should plan on waiting before we can accomplish our refinance goal.


Sometimes bad things happen to good people, I felt horrible for them, but unfortunately refinancing at this time won’t happen as their credit scores dropped too much for the refinance to happen.


Fortunately their current rate is at 4.25%, not all that bad, but they are paying $190 for mortgage insurance. We will just need to wait a bit longer.


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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 2 commentsJoe Petrowsky • September 23 2019 12:29PM


Good morning Joe. Timing is everything and on time payments all the time is a must. Enjoy your day.

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) over 1 year ago

This is very good advice to share with prospective mortgage borrowers.

Posted by Roy Kelley (Realty Group Referrals) over 1 year ago