All, Does anybody here have a template letter used to give to mortgage underwriter when apply for a home loan? I may not have time to have my collection account deleted before I purchase my first house and I want to write them a letter explaining why I was late. Thanks!
I don't have a template but I do know they want reasons that have nothing to do with "I was irresponsible" " I forgot" etc... You need a good reason- job loss, illness, death, etc. We had to write a similar letter when my husband and I obtained a sub-prime loan through Citifinancial. Our broker pretty much told us what to say... events beyond our control, we've learned from the experience & have now established "emeergency" savings yada yada.
I agree with smontoya5 I blamed everything on a fictional X wife, who was suppose to keep the payments up.. and that was my reasoning for all 4 accounts with late pays.. I mean how was I suppose to remember why I had 30 day late pays in 97.. but those account were also never sent to collections and were brought up to date.. So I do not know if that would still work with your issues your having to deal with.
The first one that went into collection was because I never received the bills. They were sending them to the wrong address. The second one was for my student loan (90 day late) and that was because I thought I had a longer forbearance than I thought. Watcha think? good enough reasons? Or do I need to find a fictional wife as well? hehe
Those all seem very valid, and it does not appear your dealing with anything major... The first one excuse.. Didnt recieve it will do.. but dont use it more than once, unless you moved.. and the mail was just gettting collected at the rental office of the apartment complex.. wink wink.. and the other one for the loan also sounds very plausabe.. Dont see you having any problems.. best of luck my friend..
