I have to write a letter of explaination on deragotary listings for FHA am at a total loss and really can not afford to screw it up, brokers only help was just tell the truth..ack! an yone willin g to share their approach??please
I typed mine up a few weeks ago. - If the missed payments are in a certain time period, try to find out what was going on (I changed jobs during my time and used that as the excuse). - Main thing here is to try and tie them to a certain period. You could say it was an adjustment to a move, a salary decrease, work issues related to the economy. They just need the letter for their records. Chances are your loan is already approved... GT
Same thing happened to me when I got my FHA loan a couple of years ago. I think it is standard practice...looks to me like your loan is already approved Just tell them the truth (moving, lost in the mail, between jobs) etc....
VA does the same thing. Like I said, just make it look like a one time thing that isn't gonna happen again. Good Luck, Dancer
Re: FHA letter of explaination,H Thanks for the responses. Hopefully I'll be posting about a new home soon, an impossible dream until found this board!
