Job Discussion Forums

MikeySaid · Joined: 10 Nov 2004 Posts: 509 Location: Torreon, Mexico

I'm wondering if anyone has had the experience of buying a home in the US after returning from a stay in Mexico.

I was in Mexico for the better part of two years.

For no years was in in Mexico the WHOLE time... in fact I arrived in August of 2008, returned to the US in February of 09 and looked for work (unsuccessfully) for four months, returned to Mexico and had no verifiable income and then resumed working as a teacher at UVM in 2009 for one semester before returning to the US to work in advance of my wife's studies beginning here in Arizona.

Note... I (on perhaps bad advice) did not file a tax return during 2008.

We're now investigating whether or not we'll be able to purchase a home considering what may look to some like a suspect work history.

Guy Courchesne · Joined: 10 Mar 2003 Posts: 9650 Location: Mexico City

I don't have anything to offer, but I'm curious as to how your time working outside the US affected your credit rating, if at all.

Phil_K · Joined: 25 Jan 2007 Posts: 2041 Location: A World of my Own

I suspect there would be nothing wrong with the credit rating, per se - i.e. no activity, no change, good or bad. I think the point is that a lender is looking for a stable employment. I wouldn't think a little adventure south of the border would have too much bearing on that if you had stability before you went and have it now.

MikeySaid · Joined: 10 Nov 2004 Posts: 509 Location: Torreon, Mexico

got a phone call back from a lending agent today and she basically told me that I need another year of work/residency in the same area/field since upon returning from Mexico I took work as a community organizer--even though one of my duties is working within a school and providing adult immigrants ESL courses.

wonder if mom 'n dad want to cosign on a condo that costs less than some people's cars?

mejms · Joined: 04 Jan 2010 Posts: 390

Whether buying in the US or Mexico, I think that it's all about being able to make a decent downpayment (in addition to asking for less of a loan and making it more likely that they'll approve, you'll avoid high monthly fees), an income proportional to your loan request, and a credit history. If you've been bouncing between Mexico and the US, I'd imagine that you've got to ask yourself if you really do have these three. If not, you'll got to stay put for awhile, get economic stability, and save.