It appears to me you have received some very good advice. Especially in regards to ONLY answering the questions as they are presented, such as "in the past 7 years". You need to be honest and not withhold information, on the other hand, you don't need to provide additional information not asked on the application. As others have pointed out, it is best to work with a local mortgage broker or lender. I am a licensed real estate agent in the New Haven and Fairfield County area and live in Milford. If you would like some recommendations on local direct lenders and/or mortgage brokers that can help you, please don't hesitate to email or call me anytime. In the meantime, feel free to visit my website at http://www.TimDenboHomes.com for additional resources and a FREE Market Snapshot report.
I am a mortgage broker. If I can be of service, please let me know!
877-238-6324 Ext 704
I would like to make a suggestion to you to! It would be in your best interest to work with a local Mortgage Professional that will look out for your well being and provide a valued service to now and on into the future. If you would like me to make a recommendation, please feel free to contact me via email.
Best of luck to you Michael - I hope you have found this information useful. I can reached at firstname.lastname@example.org
Certified Mortgage Planning Specialists
Gwenn Tanvas is a Certified Mortgage Planning Specialists who specializes in Government Loan Programs such as FHA, State and Federal VA and USDA Rural Housing Loans. Visit her website for more information, on-line calculators and a secure on-line application. She is able to assist with transaction throughout the state of Wisconsin. Her offices are located in Appleton, Oshkosh and Green Bay and offers the convenience of one-stop shopping. http://www.WisconsinLoanTips.com or http://www.MortgageProsOfWisconsin.com she can also be reached for comment or to answer questions via email at email@example.com
The obvious answer is to be truthful.....
This is a standard banking question for loan applications so you will see it where ever you apply. Your concern about penalized is reasonable but if you withhold this information it could most certainly come back to haunt you when they determine you provided false information.
If your past ten year record is as you have described, this is what lenders should be paying attention to......