Joe Petrowsky's Blog

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Mortgage and Lending - Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - NMLS # 6869
“Credit Scores Continue Lower for FHA Borrowers”     A decrease in average borrower credit scores to 670 for FY 2018, the lowest average since 2008. This decline has continued in FY 2019 as:–      More than 28 percent of new forward mortgage endorsements in the first quarter of FY 2019 had credit...
“I’m Impressed!”    A guy sticks his head in the barber shop and asks, "How long before I can get a haircut?" The barber looks around the shop and says, "About two hours." The guy leaves. A few days later, the same guy sticks his head in the door and asks, "How long before I get a haircut?" The b...
“Should I get a Home Equity Line of Credit or Refinance”    Joe,  Your name was given to me by my insurance agent and I could use some advice. She told me you were the right person to ask. I have a little over $30,000 in credit card debt I would like to eliminate. Should I get a home equity line ...
 “Choosing the Right Realtor for You”  Hi Joe, I spoke to two Realtors over the weekend and have decided to go with the one you referred. She really knows her stuff, I can understand why you referred her. By the way the other agent was someone that is part time in the business and a family friend...
“No One can Relate, Right?”    Junior had just received his brand new driver’s license. To celebrate, the whole family trooped out to the driveway and climbed into the car for his inaugural drive. Dad immediately headed to the back seat, directly behind the newly minted driver. "I'll bet you're b...
“Buying Multifamily Properties”    Hi Joe!Hope all is well! I have a question about possibly making a large real estate purchase. I am incredibly frustrated with my job, which I’m attributing to a blessing in disguise, because it’s pushing me to get the lead out and focus on real estate more! I’v...
“Investor Loans and NO Tax Returns Required”   Joe, I didn’t think the investor loan that you offered was real when I heard you describe it. Down payment and credit was never an issue, but my tax returns were always a problem. Not anymore!As you know, I closed on Thursday and already have identif...
“No Such Thing as a Free Meal”    A hobo comes up to the front door of a neat looking farmhouse and raps gently on the door. When the farm owner answers, the hobo asks him, "Please, sir, could you give me something to eat? I haven't had a good meal in several days."  The owner says, "I have made ...
“Getting a Home Inspection Before Listing Your Home”   Once again, I appreciate your advice. I had a home inspection done a couple of weeks ago and was a bit surprised that there were a number of issues that I needed to have fixed. All the repairs were completed, my Realtor was impressed that I w...
“Settle Collection Accounts or Pay them in Full?”  Good morning Joe. I wanted to make sure that you received my packet. I began paying off debt. You used the term settle in your past email.  Does settling the debt have the same positive effect on my credit, verses paying each debt off completely?...

Joe Petrowsky

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