I met with a FHA lender today and was informed that my husband needs to write a letter of explanation for his bankruptcy. Does anyone have any sample letter that would be willing share? I don't know where to begin.
You need to explain what happened, why it happened, and why it won't happen again. They want to know that whatever lead to the bankruptcy was an extenuating circumstance, you are back on your feet, and have re-established good payment patterns since.
Mortgages (FHA, VA, USDA, Fannie, Freddie, Non-Prime) since 2002, based in Irvine, CA and lending in all 50 states