Stay-at-Home Mom Now Single and Back to the Workplace

7.01.2011. by Audra McMahon

What with all of the negativity in the national news regarding unemployment, the thought of rejoining the workforce after being a stay-at-home mother is overwhelming. Now divorced, you find yourself stricken with the burdens of the household and now all of the finances. The only difference is that now you don't have help from your significant other.

If you do find yourself looking to re-enter the workforce, remember, your friends and family love you. Make sure and communicate your intentions and more often than not someone will know of an opening or provide a valuable lead.

In the event you have been offered a position, congratulations! You are now ready to set a budget and finally refinance your spouse off of the house. Currently, there is a unique opportunity for you to obtain financing for a new loan program if you have a salary guarantee letter and will begin work in the next 90 days! In the past, six months of employment history is necessary before you're eligible for a new mortgage.

If you are thinking about starting your own business it is imperative that you understand two things: First, credit requirements are shifting toward individual income specific vs. household income specific. This is important to know if you do not currently have any credit solely in your name. Second, when you work for yourself, your income is not verifiable without 2 years of tax returns. A thorough review of your financial situation should be mandated prior to starting your new business.

If you are re-entering the workforce and you have any questions at all about your mortgage or financial situation please don't hesitate to reach out to me.

Did this blog make you question your current situation? Email Me...

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