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

2013 

  “Dealing with an Unethical Real Estate Agent”       Greed is sometimes tempting, but are you willing to sell you soul? My wife and I were out over the weekend looking at properties that would be a good candidate for a flip.     On Friday, I received a call from a Realtor I have never met before...
02/27/2013
  “Do You Track Where Your Referrals Come From?”       I track 100% of my referrals as to where they come from, one of the most important reasons, I always want to thank the person that referred a client to me.       I had always believed that I receive about 50% of my business from past clients ...
02/27/2013
  “Divorced, My Ex Got the House, Now I Want to Buy Another Home”     A Realtor referral partner sent me a prospective client to get preapproved. He shared with me, that he got divorced 5 years ago and his last alimony payment happened a couple of months ago and there was no children. I asked per...
02/26/2013
  “2012 End the Year at a 15 Year Low, for Homeownership”       New Home Construction was up in 2012, to its highest level in 6 years. Used home sales in 2012 were at their highest level in 5 years, so what is going on?   Most of the folks that lost homes are renting, many want to buy again, but ...
02/25/2013
“Purchasing a Property to Flip, Not Always Simple”   We were introduced to a property in October located in Brooklyn, Ct. The listing price was $159,900, a property we wanted to purchase, but couldn't make the numbers work. The offer that was made on the property was $105,000.   Our offer was rej...
02/25/2013
  “Parents Max Credit Cards to Assist Kids with Homes”       Janice and Chris never got any financial or emotional help from their parents, when they were buying their first home. They were on a mission to help their kids, but in the process, they racked up $80,000 in credit cards, that would tak...
02/24/2013
Bad Habits that Hurt Client Relationships A few months ago, I met with a couple to get preapproved. It was not something that I could do for them. There a couple of outstanding credit issues, there was not enough positive credit, they were paying cash for their rent and they were a bit unrealisti...
02/23/2013
“Increased Values Helping Homeowners to Refinance” Three years ago, I attempted to do a refinance for Brendan and Cheryl. Their mortgage balance was just over $234,000, their interest rate, 7.95%. They originally purchased their home in 2005, at the height of values. At the time I did their appli...
02/22/2013
  “The Younger Generations Facing Bigger Financial Burdens”       I truly worry about how my children and grandchildren are going to deal with a higher tax burden, as we have a National debt that is totally out of control. The cost of gas and heating fuel is around $4 per gallon. When the current...
02/21/2013
  “New Discrimination Standards on Lenders”   The essence of you are guilty until proven innocent. I have read these new and improved version of discrimination standards and came away with the following:    If any kind of charges are brought on a lender it is the responsibility of the lender to p...
02/21/2013
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Joe Petrowsky

Your Mortgage Consultant for Life
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