Joe Petrowsky's Blog

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Mortgage and Lending - Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - NMLS # 6869

ARCHIVED BLOG POSTS

2012 

"Social Media Can Be a Profit Center or a Lost Leader” I started my social media adventure in May of 2011. I had literally been pestered by a few people who kept saying, “YOU HAVE TO DO THIS”. My resistance had to do with fear. Who will read anything that I write? I’m not a good speller, what if ...
12/31/2012
“For Those that are Self-Employed, If You Will Need a Mortgage, Get Prepared” Self-employed individuals need to let their accountants know, they will need to be getting a mortgage. I have heard so many self-employed borrowers tell me they have the best accountant in the world. They always say sur...
12/30/2012
  “Mortgage Forgiveness Debt Relief Act, Will it be Extended?”   I presently have 2 properties on deposit, that are short sales. I have already been put on notice, that if not extended, then one of these transactions is not going forward.   I am not surprised and others will make similar decision...
12/29/2012
  “Economist and Similar Prognosticators Don’t Know Much About Selling or Owning Real Estate"   It looks like the national increase in real estate values is around 6%. How much of an effect will the elimination or partial elimination of our current interest deduction have on real estate values go...
12/27/2012
  “Remodeling Contractors are an Integral Part of My Mortgage Practice”   I refer a number of contractors all the time, primarily for clients I do FHA 203K business. They become the difference between a transaction getting done.   Most prospective homeowners that may be interested in purchasing a...
12/27/2012
  “Mortgage Fraud Report, Shows Properties Purchased as Investments Show Higher Cases Deceit”   Not often, maybe once a month I get calls from folks buying investment properties, where the transactions don’t make sense. I’m sure many in the mortgage business get such calls and some get caught up ...
12/26/2012
  “Freddie Mac Doesn’t Have a Good Handle on the First Time Home Buyer Market, Just Yet”       They issued a report that indicated that there has been growth in the first time home market, the first  time in two years. So, the question that should be asked, what percentage of their business is fi...
12/26/2012
“Does Everyone See a 20% Increase in Real Estate Values in 2013?” Do I see appreciation in the next few years, sure. I don’t see a 20% increase. I just don’t get the math. The economy would have to get so much better than it is. Unemployment rates would have to drop 2% in the next few months, so ...
12/25/2012
“The Government is NOT Responsible for Fixing Housing” That job belongs to us! We have already seen the great job the government has done, when they get involved in any business, the results have been poor at best. Look at what the involvement in recent years, HVCC, which has since been rolled in...
12/24/2012
“Why Would Anyone Shop Online for a Mortgage?” I did a mortgage application for folks today that told me they had searched online for find the best mortgage deal. They interviewed 4 different companies/loan officers and didn’t like the experience. These folks taught me a lot. I asked them, what i...
12/23/2012
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Joe Petrowsky

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