I had a loan mod couple years ago and I missed payments after it UW wants a LOE I've made 12 months on time payments current to date. This is my LOE tell me what are your thoughts on it and if you were a UW How would you feel about this
Dating back to 2017 My Fiancé Now wife at the time had really bad medical problems. Which she had surgery for. Which caused her to be out of work for over a year and a half. Which resulted in me doing a loan Modification in 2018 due to the loss of income in our household we were struggling financially. I was the only income in our household. My wife found part time work at the end of 2018, but her health problem caused here to miss work off and on even after her surgery. We were still struggling to make ends meet. Since she was out of work for so long. It was very difficult to get caught up on our bills that we were behind on for months. I missed my mortgage payment for a extended period of time in 2019. Due to the fact that we were months behind on all of our bills. This time period was the most difficult and financially stressful time of my life. We were on the path to getting caught up on paying our mortgage since we were behind every month. Since December 2019 I haven’t missed one mortgage payment or any line of credit payments. And I’m glad to say this troubling time is behind us. This situation was totally out of our control and there isn’t anything We could have done to avoid this.
To ensure I will never be in this predicament going forward, I began saving money in case we ever faced any type of hardship again. After closing I’ll have over 20 months reserves in my savings. To ensure if something like this were to happen again we would be better prepared. From the day I bought this house September 2015 until October 2017 (around the time when my wife’s health problems started occurring) I had not missed one mortgage payment. Please know, My past payment history during this challenging time is not a reflection of my future intentions as I am now much more proactive and prepared regarding my finances. My credit is the most important thing to me besides my family. I can provide medical documentation if needed. Thank you for the opportunity you have given me to explain this. This is a very important event for my family and I. Our current home sale closes in 12 days. We appreciate you doing everything possible to make this a reality for us.
