How do employers view a foreclosure (but everything else credit-wise okay)?
Question:
Answer:
Foreclosure is one of the worse marks on your credit along with repos, tax liens, charge offs. A house and a car are the 2 biggest and most important purchases of someones life and need to be paid on time. When applying for credit it would make it very difficult but for consideration for a job might be different.
I have never heard on employers looking at credit history. The are concerned with your work history, education and criminal background. Not your financial background.
Either way, it shouldnt prevent you from getting a job. Its probably illeagl for them to hire based on something like that.
If the account is now current, it would seem to be a non-issue. If not, ask them if they will pull your credit report. Explain your circumstances up-front. Pray.
To check your credit in a pre-employment background check, the employer must have your permission in writing. If you haven't been asked to sign this, you have nothing to worry about.
If it does come up, simply explain what happened. People are being very understanding about foreclosures, especially now with the state of the economy and all the ARMs coming due.
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