Home Buying in Dallas>Question Details

kabars1089, Home Buyer in Wood Dale, IL

A lender is asking for an explanation for a gap in employment. I was incarcerated for that period. What do I say? HELP!

Asked by kabars1089, Wood Dale, IL Thu May 1, 2014

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Answers

5
It is always best to tell the truth. In fact, if a person is incarcerated for two years, the person must have been convicted of a felony and that will almost always turn up anyway. Explain what happened.
0 votes Thank Flag Link Fri Jun 26, 2015
Just tell the truth. It isn't as bad as you think, plus it could and probably is on your credit report as a public record.
0 votes Thank Flag Link Thu May 8, 2014
It best to be upfront with the lender as both your lender and your realtor are your business partners.

Good luck,

Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net
http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Sun May 4, 2014
I recommend that you tell the truth. Lenders need to know the explanation for things like employment gaps. It would be for the best to be upfront with your lender. If you do not get approved with that lender, you can always try another lender. The best thing for you to do is to speak with a knowledgeable lender to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!

Brian Nguyen
Sr. Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
brian.nguyen@nafinc.com
0 votes Thank Flag Link Fri May 2, 2014
Unfortunately, we are required to address any and all gaps of employment. Do you have divulge that information? No. Send me a message and I will tell the best solution.

Best of Luck

George Raymondo
DFW, TX
Web Reference: http://www.AFN-Loans.com
0 votes Thank Flag Link Thu May 1, 2014
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