Free Sample Letters, Sample Forms, Business Letters, Sample Resumes, College Letters » letter explaining your mortgage http://www.letters101.com Sample Letters, Best Sample Letters, Sample Business Letters and Forms, sample resignation letter, sample resume letters, free sample letter templates, sample interview letters, sample debt letters, sample letter recruiter, sample letters for colleges, sample salary letter, sample compliment letter Wed, 01 Feb 2012 03:10:15 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 How to write a letter explaining your mortgage and/or other lates when applying for credit http://www.letters101.com/letters-to-credit-bureaus/how-to-write-a-letter-explaining-your-mortgage-andor-other-lates-when-applying-for-credit/ http://www.letters101.com/letters-to-credit-bureaus/how-to-write-a-letter-explaining-your-mortgage-andor-other-lates-when-applying-for-credit/#comments Fri, 29 May 2009 04:58:44 +0000 admin http://www.letters101.com/?p=28 Letter to explain late payments when applying for credit

How to write a letter explaining your mortgage and/or other lates when applying for credit.

OK, so you have gotten your credit report in the best shape possible and you are trying for that new home. BUT, your credit still has some dings. Even though you may qualify, the lender will ALWAYS ask you to explain any lates on your report. This letter will not help a desperate credit situation, but may make a difference in a marginal one.

The basic premise of this letter is:

  • The situation you were in which caused you to pay late was beyond your control
  • You have vowed to never let it happen again
  • Here are the things you have done to make sure it doesn’t happen.
To Whom it May Concern:

I am writing this letter to explain my late payments on my mortgage to XYZ mortgage company and to American Impressed in Jan 2000.

I am very distressed that this has ever happened to me, but I was <laid off>, <seriously injured>, <going through a death in family> . The circumstances drained my carefully put aside savings and I was forced to miss a payment because of it. My financial advisor told me not to tap into my 401K, and I was able to recover from this crisis and begin making on-time payments.

I have always prided myself in paying on time, and I have taken steps to put away more money in my savings account to guard against other unforeseen occurences like this.

Sincerely,

your signature

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