Letter of Explanation Sample – Lender411.com – How To Write a Letter of Explanation. Be as specific as possible. Format your letter like a timeline to ensure you don’t leave anything out. Include any evidence that supports your claim: a note from your boss, doctor, lawyer, a police report, tax returns – appropriate documentation is contingent on circumstance. Stick to the facts and omit any embellishments.
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How to Write a Letter of Explanation for Credit Problems – A letter of explanation is a 100-word letter that sits on file at the three major credit bureaus; transunion, Experian and Equifax. This letter then gets sent out to anyone requesting a copy of your credit report, providing context for any negative credit entries.
Letter of Explanation Requirements Will Vary by Lender. Perhaps there’s a deposit for $10,000 in the account, which doesn’t quite line-up with what you make in the way of salary. It seems a little out of place, even if it’s entirely legit. The underwriter may ask that you explain that deposit to ensure it’s kosher,
These include serious illness, death of a wage earner or other major catastrophe. These must have supporting documentation and a letter of explanation before an underwriter can consider an exception..
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Address Discrepancy Letter – Mortgages Analyzed – Address Discrepancy Letter is a letter of explanation where the borrower clarifies the current residential address and responds to any discrepancy in the address stated in credit report or other documents.
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A good letter will include information on why the foreclosure happened, what steps you have taken to recover from the foreclosure and why you are a good candidate for a new home loan. Tell the Story
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Explanation Letter To Underwriter – Lake Water Real Estate – Mortgage underwriters normally want documentation attached to the letter of explanation. For example, a letter of explanation may be required if Borrowers with prior bankruptcy, foreclosure, deed in lieu of foreclosure, or short sale, letter of explanation to underwriters will be required.