0
One may be asked to write a mortgage letter of explanation when there is an overdraft fee on a bank account, insufficient funds, late payment, or different address on bank statements than current mailing address. This letter must show the date, greetings, cite the incident with all applicable information, explanation, solution, and appropriate documentation.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
My mortgage company is asking for explanation on two things that show up on credit report How come three that I know about did not show up on credit report they pulled?
It's possible that you have done business with a company somehow connected with the mortgage company. This being said, they may have some sort of inside information on your payment history in their internal system. Your credit report as you view it is the same as the mortgage company's view so this is the only explanation I can think of.
How do you write a hardship letter for mortgage approval?
A letter of hardship for loan modification is essentially your best prospect to give explanation to the lender, the conditions that led you to be in arrears on your mortgage. It is crucial to be precise, clear-cut, and truthful while writing the hardship letter. Sugar-coating your situation is not recommendable.
How to write Budget letter explaining how you will pay your mortgage?
To write a budget letter explaining how you will pay your mortgage, you should be thorough. Include information on all of your income. Next include all of your expenses. Show that you have enough money to pay the mortgage plus your expenses.
What is a Mortgage Letter of Explanation?
It is actually as simple as the title itself... a letter of explanation. Mortgage companies can request these from a borrower for many different subjects and reasons. They are requested when there is a specific situation that needs to be explained to the underwriter (the person who decisions the loan). The most frequently used is probably in reference to things on the credit report, like late payments, etc. Sometimes things just need to be explained a little further in order for the entire picture to be seen.
How do you add someone to your mortgage loan?
You can not add someone to the loan without refinancing the whole loan and the other person then applies with you. If the other person is looking for credit -- there is a way for them to show that they are paying on the loan. That person will send in his/her checks to the lender. That person must keep all the bank statements or copies of the checks to verify that they have been paying it. After a year, if they are applying with you on the mortgage, or they are applying for anything else, they can include a letter of explanation and copies of the checks, so the new lender can in fact see that they have been paying on the mortgage and have been paying on time.
My mortgage company is asking for explanation on two things that show up on credit report How come three that I know about did not show up on credit report they pulled?
It's possible that you have done business with a company somehow connected with the mortgage company. This being said, they may have some sort of inside information on your payment history in their internal system. Your credit report as you view it is the same as the mortgage company's view so this is the only explanation I can think of.
How do you write a hardship letter for mortgage approval?
A letter of hardship for loan modification is essentially your best prospect to give explanation to the lender, the conditions that led you to be in arrears on your mortgage. It is crucial to be precise, clear-cut, and truthful while writing the hardship letter. Sugar-coating your situation is not recommendable.
How to write Budget letter explaining how you will pay your mortgage?
To write a budget letter explaining how you will pay your mortgage, you should be thorough. Include information on all of your income. Next include all of your expenses. Show that you have enough money to pay the mortgage plus your expenses.
Explanation letter for show cause notice?
not conducting credit investigation to the client before granting the loan
How do you write a letter of explanation for clientele base?
sample of an explanation letter
Where can one find an explanation of a variable mortgage?
You can find a good and detailed explanation right here as your question is being answered. A variable rate mortgage is just what it says a variable rate that means the rate can change over times. This is in contrast to the more traditional fixed rate mortgage.
What is a Mortgage Letter of Explanation?
It is actually as simple as the title itself... a letter of explanation. Mortgage companies can request these from a borrower for many different subjects and reasons. They are requested when there is a specific situation that needs to be explained to the underwriter (the person who decisions the loan). The most frequently used is probably in reference to things on the credit report, like late payments, etc. Sometimes things just need to be explained a little further in order for the entire picture to be seen.
How doi response to show cause letter?
Someone responds to a show cause letter in a few different ways. One could directly respond to the letter and write an explanation. Another is to contact a lawyer and decide on the best course of action.
How do you write a letter of explanation for absence due to family problem?
explanation letter for family problem
How do you add someone to your mortgage loan?
You can not add someone to the loan without refinancing the whole loan and the other person then applies with you. If the other person is looking for credit -- there is a way for them to show that they are paying on the loan. That person will send in his/her checks to the lender. That person must keep all the bank statements or copies of the checks to verify that they have been paying it. After a year, if they are applying with you on the mortgage, or they are applying for anything else, they can include a letter of explanation and copies of the checks, so the new lender can in fact see that they have been paying on the mortgage and have been paying on time.
Can you have a public record judgment changed to show collection?
You didn't mention whether the debt has been paid in full. If it has then get documents from the court or the lender that prove that. Then submit in writing to all three major credit reporting agencies your docs with a letter of explanation. The P.R. judgement will stay on your report but it will be marked "satisfied" and then will not affect your getting a mortgage loan.
How many milliliter a liter show explanation?
1 liter = 1,000 milliliter . . . <=== there is the explanation
