Reply
New Member
kellynat
Posts: 4
Registered: ‎08-14-2007
0

Sample explanation letter

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.
 
 
Thanks
Super Contributor
ShanetheMortgageMan
Posts: 8,174
Registered: ‎09-28-2007
0

Re: Sample explanation letter

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.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+