refinancing: Yes, You Can Refinance Out of a Chapter 13 Bankruptcy
- 11/15/22 12:54 PM
“Joe,
Can you get me some business cards and will forward to my BK attorney. She said she is blown away that you were able to refinance me out of my Chapter 13. Actually, I can’t get over it either.
You can’t imagine how much of a difference this refinance will make in our lives. Making nearly $2,000 monthly to the trustee was killing us, especially the cost of everything these day. My attorney told me she was not aware that someone can refinance out of a chapter 13, amazing!!
I put a blurb on my Facebook page, as many of our … (7 comments)
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refinancing: Not Paying Your Property Taxes, About as Scary as it Gets!
- 10/28/22 01:38 PM
“Joe,
I want to thank you again for getting the refinance done for me. I know it wasn’t a lot of revenues for you, but can tell you it meant the world to me.
I can’t believe how stupid I was not paying my property taxes. When I had a mortgage, the taxes were included in the monthly payment. Unfortunately, it got totally out of hand. Never too old to learn a valuable lesson.”
I have never kept track of how often I do a refinance for folks that got behind on their property taxes. And I wish I could say it … (2 comments)
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refinancing: Not Paying Your Property Taxes, Not a Good Idea
- 10/18/22 12:04 PM
“Joe,
I want to thank you again for getting the refinance done for me. I know it wasn’t a lot of revenues for you, but can tell you it meant the world to me.
I can’t believe how stupid I was not paying my property taxes. When I had a mortgage, the taxes were included in the monthly payment. Unfortunately, it got totally out of hand. Never too old to learn a valuable lesson.”
I have never kept track of how often I do a refinance for folks that got behind on their property taxes. And I wish I could say it … (2 comments)
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refinancing: Sure the Rate is Important… But?
- 10/11/22 10:30 AM
Joe,
Not sure if you remember me, but you did my mortgage a little over 4 years ago. The emails you are sending got me thinking about financing or I should say refinancing needs. With inflation where it is, the cost of everything has gone up to a point that I am going to start falling behind.
I put on an addition and did some repairs, almost all on credit cards.
I went back on the calculator you once sent me, if I paid everything off, even at 7%, I would save over $2,000 a month. Tell me what you need?
He … (3 comments)
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refinancing: Forbearance and Now Foreclosure Started
- 08/25/22 10:02 AM
“Mr. Petrowsky
My neighbor gave me your contact information. In 2020 and 2021 I was in forbearance and when this period was over the mortgage company contacted me, as to when I could bring the loan current. When I spoke to the servicer, they indicated that the payments missed would be added to the end of the loan, apparently not the case. They are starting a foreclosure, have spoken to the law firm and they basically said there was nothing they could do and told me I should work on refinancing. Can you help me? Barry XXXXX”
Unfortunately, a refinance is … (2 comments)
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refinancing: Is Refinancing into a Higher Interest Rate a Good Idea?
- 07/12/22 10:19 AM
I recently received this email after a phone call:
“Joe, thank you for taking my call yesterday. As promised, Ruth and I went over the options and your recommendation.
We are going to move forward with the refinance. As you said, giving up a 3.25% rate to go into a 5.125%% rate is a tough pill to swallow. However, I am not going to feel bad about getting rid of all of our other obligations. Saving over $2500 per month is a no brainer as far as we are concerned.
We will gather the items you need, as we want to get … (2 comments)
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refinancing: “Refinancing, Not in My Best Interest”
- 08/18/21 05:59 AM
“Refinancing, Not in My Best Interest”
Good morning Joe,
I thought you were in the mortgage business? I fully expected get a new mortgage application done yesterday, but that wasn’t the case. I watched with anticipation as you were making you magic, but was surprised when you told me that refinancing was not in my best interest.
I not sure if I was shocked or relieved, but you took the time to explain what the cost would be and the amount of the monthly savings. I guess it also told me what a great rate you got me 4 years ago when … (4 comments)
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refinancing: “You Were Right”
- 03/29/16 04:04 AM
“You Were Right”
When anyone wants to refinance I ask a lot of questions. One of the areas has to do with how long the client is planning on owning the current property. Depending on what they share I may recommend that a refinance not be done, as a refinance has a cost.
You were right, we should have listened. We are looking to move sooner than we expected, which is what you thought might happen, but we made the decision to refinance. Not a good decision on our part, but now we need your help again, we want to buy another … (23 comments)
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refinancing: “VA and FHA Streamline Loans”
- 03/27/15 08:42 PM
“VA and FHA Streamline Loans”
Doing a VA or FHA streamline loan is a no brainer 90 percent of the time. No appraisals are needed and no income or job history is required.. I’m not kidding. Closing costs are minimal; often a credit from the lender can pay most or all of the costs. Lower interest rates and lower FHA monthly mortgage insurance can reduce the mortgage payment. I have seen payments reduced from $500 to $100, so for anyone that has one of these mortgages it is definitely worth checking out.
We do these mortgages in Connecticut, Massachusetts, … (26 comments)
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refinancing: “Can I do a Refinance if I wasn’t on the Original Mortgage?”
- 03/19/15 10:31 PM
“Can I do a Refinance if I wasn’t on the Original Mortgage?”
A number of years ago I did a mortgage for three people, two of which were going to be on the mortgage but all three were going to be on title.
Fast forward to now..the one that was not on the mortgage wanted to refinance taking her father & husband off title and the mortgage, so I did a new mortgage application. The new application had her as the only one on the mortgage and the only one on title.
All was … (16 comments)
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refinancing: “Refinancing After a Year of Ownership”
- 09/17/13 02:20 AM
“Refinancing After a Year of Ownership” A year ago I did an FHA 203 K loan for a client. The house needed a boatload of work in which much of the work would be done by the buyer and his family, one of which was the contractor. The purchase price of the property was $112,000, plus $30,000 for renovations. This became a family event to get this property renovated. He brought me photos of the finished product, just amazing. After a year of ownership, a mortgage can get done based on the new value of the property. A $150,000 … (20 comments)
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refinancing: “Three Mortgages, Can Cause Marriage Problems”
- 06/13/13 09:43 PM
“Three Mortgages, Can Cause Marriage Problems”
I started a mortgage application for Bob and Theresa a few months back. In the middle of the application process, they got into a rather heated discussion about which mortgages to pay off.
Apparently Theresa started a business that failed after 3 years. The second and third mortgage came as a result of the failed business. What made the most sense was putting all three mortgages into one mortgage which would save a bunch of money.
Bob said, “no way are we … (16 comments)
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refinancing: OBAMA ADMINISTRATION GETS AN F
- 06/14/12 02:29 AM
“Obama Administration Gets an F”
I started reading some of the RESMedia article, part of it is below. They indicated that housing sales increased 2.4% over April of 2011. I would not brag about these housing numbers, nor would brag about an 8.2% unemployment.
I know the administration could give a damn what I think. Right now, this President has no chance to get reelected. If you want a shot at getting reelected, start now to repeal Obamacare and Dodd-Frank. If you are not in, you are out.
Obama Administration Releases May Housing Scorecard
By: RISMedia
The U.S. Department … (7 comments)
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refinancing: MORTGAGE FRAUD CASES FALL TO THE LOWEST LEVEL SINCE 2009
- 06/05/12 04:00 AM
“Mortgage Fraud Cases Fall to the Lowest Level Since 2009"
That is really good news for the mortgage industry and about time. It is so frustrating for all of us to continue reading about mortgage fraud cases time and time again. There is no room in our industry for any kind of mortgage fraud. Unfortunately, not everyone will like up to a higher standard, but for those of us that do, keep up the great work!
Mortgage Fraud Falls Below Post-Crisis High: Report
By: Tory Barringer
Interthinx released its quarterly Mortgage Fraud Risk Report Wednesday, … (6 comments)
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refinancing: FORGET TAX THE RICH, LET'S TAX EVERYONE BUYING OR REFINANCING
- 12/30/11 12:57 AM
“Forget Tax the Rich, Let’s Tax Everyone Buying or Refinancing” I guess the answer is not cutting our Federal deficit, the real answer is that the current administration will continue to figure out ways to add taxes. Like the housing market really needs additional reasons to hurt some more. OK, so the average person buying a home or refinancing won’t even know these extra fees are in the payments, but it means that they will have less to spend on other things. The crazy part of this decision, the payroll tax is very visible, but fees added to a … (9 comments)
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