Will A Bank Employ Me If I Defaulted On My Mortgage?

S. finds himself in a situation that’s very common in this recession: he’s unemployed, and his house was foreclosed on. The twist to his story is that he’s considering applying for a job at the very bank that his mortgage was from. Does he have a chance?

The economy wasn’t very friendly to me over the past few years. I’ve been out of a job for awhile and in September 2010, my home was foreclosed on me. The lender is no other than Countrywide, who later sold themselves to Bank of America. I tried looking for employment in every industry and hoping to find something just to make the monthly payments and not lose my house. As days turned into months, I decided to look for employment elsewhere in the Mid-Atlantic. None of the temp jobs turned into anything permanent. Long story short, BoA ended up winning the uphill battle and took back the house and I’m now on the hook for $219,000 loan. BoA have now ceased any communications with me and I’m sure it’s inevitable that they are going to want their money back in an aggressive manner.

So, during my job search, I decided to look at BoA’s career site and saw a lot of positions I’m qualified for, but I’m afraid of applying due to my defaulted loan. But at the same time, I would think BoA would strongly consider me since they could take any potential bonus compensation from me and go towards the defaulted loan. My friends and family warned me that I might need to sign a long-term contract to them in order to pay off the debt or I won’t even be considered and BoA will enjoy me suffering. I’m betting on the latter, but has any Consumerist reader come into this scenario of daring to apply for a job to the bank they owe money to?

Not being considered for the job doesn’t mean that Bank of America is watching over you and cackling as you suffer: it means that you didn’t get the job, or that a financial company thinks that a person with poor credit and/or a foreclosure on their record is a poor risk. Still, does anyone out there in the Consumerist Hive Mind have a similar experience, and advice for S.?