I was thinking the same thing. I know some wonderful people who unfortunately had to file bankruptcy or have no place for their children to live. The economy sucks. People loss jobs. The banks were putting people in homes that had no business being in homes. I know I was granted a mortgage that I shouldn't have. Luckily, my pay went up, but I had a 1200 dollar mortgage at 26 years old make 17 dollars an hour. On paper at 26 years old you think no problem. Now knowing how expensive everything is I'm surprised I made it through. Not to mention I was raising 2 kids on my own at the time. I don't know the situation here but you never know what someone went trough
When we were building I could not believe the amount of $$$ the bank was willing to loan us! It would have been my dream house. However, with 2 good heads on our shoulders, DH and I backed away and built something for much less $$. Thank God...because during the building process, his job was terminated but with no unemployment paid. So, instead of living on less, we were living on next to nothing....DH took any job that came along ( one of which was giving horseback rides in the Smokies and shoveling horse poop). I turned in 5 W2 forms this year!
The thing is...people bite off more than they can chew AND want to wait on a job that pays them what they think they are worth. Thank God I am married to man who has been there 2x now and has never, ever not worked a day in his life. I have little tolerance for the man who sits at home waiting until he finds the perfect , high paying job while belly aching about his bills and no one paying him what he is worth.
Regardless, in order to even TALK about retirement accounts to other people in the role of an advisor you have to be securities licensed, period. Part of getting a securities license is no bankruptcy or even credit counseling. It is what it is and for good reason. Would you want to talk to a financial advisor that has a bankruptcy on his/her record??
The school may or may not have a 403B, many have 401K's because they are more flexible.
Well, Dave Ramsey filed some type of bankrupcy at one point and I've listened to him.
But no, I see your point.
That stinks OP, but it makes sense. Any job where a person could be bribed is a position someone with questionable finances is going to be under the microscope. For My DH's job they did a credit check, some kind of government clearance and a drug blood test, they wouldn't even have screened him if he had a criminal record of any kind.
Good luck, I hope things work out for you guys.
My DH's new job (last year) checked everything about him. Credit, health, security clearance, lie dector test, etc.
A bankruptcy or even low credit score would have disqualified me from my current job. I work in I.T. in the financial industry and it is pretty common. We have way too much access to the systems to put someone in they don't trust and for better or worse they use credit score as one of the tools to gage trustworthiness.
I think it is a cop out to blame the mortgage companies for anyone accepting a mortgage they couldn't afford. They were pretty dumb to do it but at the same time when they approved me for a mortgage I would never have been able to afford I was a big boy and bought within my means. Five minutes with a calculator and it was pretty obvious that had I bought a house with the insane mortgage they pre-approved me for I would have been in trouble right away.
Blaming the mortgage lenders is like blaming the crack dealer because you didn't just say no.
OP, good luck, but like a PP said, I think your anger is misplaced.
