Question

In-Transition Manager and Mortgage Modifications

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[Anonymous]
[Anonymous] asked
Jun 4 2012

Will participating in a mortgage modification program due to the loss of employment impact a City Manager's ability to be bonded or make them a less attractive candidate for future City Manager positions, since such participation effects their credit rating?




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Patricia Greene
Patricia Greene said
Jun 7 2012

I feel that I would get ahead of this issue by contacting the bonding agency from your previous employer and explaining your circumstances to them. If it requires payment of a higher premium or whatever their requirements are, you can work on this well in advance of your next interview so that you can confidently explain that there were extenuating circumstances and this is how you addressed it proactively. Hope this helps.

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