Joe Petrowsky's Blog

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



“My Referral Partners Make Me Look Good”  Mark,Jeff and I would like to thank you for the very detailed and educational home inspection you completed for us this week in Glastonbury. We were incredibly impressed with your attention to every small detail and will most definitely be referring you t...
“Buying a Duplex using a 203K Loan”  Sorry for all the questions, but I got another one. What if I wanted to buy a duplex that needs some work? Would a 203k allow for that?Tom  It is so smart, especially for first time home buyers to purchase a 2-3-4 family home to live in and best of all the tak...
“The Answer is in the Freezer”   A young man named John received a parrot as a gift. The parrot had a bad attitude and an even worse vocabulary. Every word out of the bird's mouth was rude, obnoxious and laced with profanity. John tried and tried to change the bird's attitude by consistently sayi...
   “USDA a Wonderful Mortgage Program”   This program is a NO Brainer, if the area allows USDA loans. It is so important however to speak to someone that understands the program as it has many quirks, such as income limits. These income limits include everyone under the roof, rather than only who...
      “No Problem, We’ll get Married Right Away”   Joe,Thank you for educating us on VA mortgages. Here are answers to some of the questions that you asked. The modification was approved in November of 2014 and was modified in March of 2015. My ex-wife and I started a loan modification because I ...
“Hopefully he makes a good Living”   A hot shot loan officer finds a lamp. He rubs it and a Genie emerges. The Genie tells him he will be granted three wishes. The man thinks for a moment and says, "First, give me a bottomless mug of beer."A mug of beer appears in his hand. He sips it once, then ...
“FHA 203K Loans”   Hi Joe I know it’s been a while.  Kim and I have been working with our agent Shirley looking for houses with very little luck but we have found a few that we really like, but all need some work cosmetically, minor work inside like appliances, electrical, plumbing etc.  All with...
“Refinancing Investment Properties”    So based on our conversation, I'll need to keep it for 6mo. If it appraises for 150K, then is the maximum mortgage I can take out 105K (70%) or is the maximum cash I can take out 105K? I just want to make sure I'm clear on my numbers. I wanted to take out a ...
“This Dog Needs More Training”  As a butcher is shooing a dog from his shop, he sees $20 and a note in his mouth, reading, "8 lamb chops, please."Amazed, he takes the money, puts a bag of chops in the dog's mouth and quickly closes the shop. He follows the dog and watches him wait for a green lig...
“I Need Your 2016 Tax Returns to Make the Debt Ratio Work”   Hi Joe,Happy Holidays!  I'd like to look into doing a refi on both rental properties as soon as I get my 2016 taxes done.  My debt to income should be considerably better.  Should we get it going now?Regards, Mike For self-employed borr...

Joe Petrowsky

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