Will home foreclosure keep me from getting the job?

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Feb 24, 2012 11:26 pm

Hi Everyone,

I foreclosed on my home in 2009. Will this prevent me from getting a job as a financial services representative? Trying to move on from the whole mess...

Feb 25, 2012 6:19 pm
ZwingDing:

May hinder you from getting a job at the big wires (ML, MSSB, etc.) but you can find a job somewhere.

Feb 25, 2012 6:21 pm

Geez, I'm having all sorts of problems posting...just when I get it all typed up, I submit it and it erases everything...

Okay, so I have a job offer with a large mutual company pending my "confidential" report...does this help clarify? Anymore input?

Feb 25, 2012 6:58 pm

doubtful. shouldn't matter at this point. lots of people went through the same issue back then.

Mar 6, 2012 12:55 am

Homes in foreclosure or approaching foreclosure included a quarter of all U.S. residential home sales that occurred in the last quarter of 2011, according to a new report by RealtyTrac. Loan providers have been approving more short sales and cutting their losses. Well, now that the probe has been lifted, the industry is said to become more aggressive. In addition to that the trend will increase in the coming year. A total of 88,303 pre-foreclosure homes sold in the fourth quarter of 2011. It is because of the the short sales that make up an increasing portion of foreclosure-related sales. And according to CNN, some lenders in especially hard-hit markets like Florida are even offering cash incentives to entice borrowers to sell short. source for this article: Short sales on the rise in aggressive mortgage market.

Mar 6, 2012 9:41 am

Thanks Mike!

Mar 18, 2012 9:20 pm

Hi,

It is doubtful this will affect your ability to get a job as a financial services representative.  They will run a credit check, however primarily what they're looking for is if you have any major outstanding liens or judgments (like from the IRS).  In this market foreclosures are so common that it does not tend to make a difference.  I worked in a senior compliance position of a major b/d and I've consulted for others...I'm a compliance consultant now.  Just to give you an idea of where my experience comes from.  I hope this helps!

Regards,

Tiffany Chamberlain

Managing Director, Polaris Compliance Consulting, LLC

www.polariscompliance.com

[email protected]

Mar 18, 2012 10:32 pm

Thank you Tiffany!  Very helpful. 

Feb 17, 2016 8:29 am

It depends on some company requirements but i guess you could get a job as not every company has such code of conducts or having a strict rule for this point which you are facing for home foreclosure.
www.nwmea.com