“My Credit is Really Bad”

“Mr Petrowsky,

I did some online searches and came across your name a couple of times.

Here is my situation, I am recently divorced and need to refinance my home however, my credit is really bad. My ex was supposed to be paying all the bills including credit cards and car loans and I was paying the mortgage. He stopped paying everything, which I was not aware of until I started getting creditor phone calls. Fortunately, I have a good amount of equity and the mortgage payments have always been on time.

A number of the creditors put liens on the home, so the goal would be to get my ex off the mortgage. The property is already in my name, so that part isn’t going to be an issue.

Can you help me?”

Think about this:

• The estimated property value is $350,000
• The refinance amount would be $210,00 which would be a 60% loan to value
• The debt ratio is under 30%

Yes, her credit score is 535, but why would she not deserve a refinance?

I can get her a new mortgage, how can I help you?