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Letter of explanation multiple addresses

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Letter of explanation multiple addresses

We have to write a LOE for multiple addresses that appear on my credit report. We have moved a lot during our marriage for various reasons. We had a couple of short term housing situations back when we weren't making very much money and once when we were going to try to buy a house two years ago. One of the short term apartments actually lists the time frame wrong so it looks like we were living two different places at once. Another address has the date wrong as well (listed as one month when we were there 2 years). I know it sounds crazy. We are much more stable now and one reason we want a house is so we can have the stability! Is this going to raise a red flag? What should we say as an explanation? At least we've shown great stability in our employment.
Message 1 of 9
8 REPLIES 8
Valued Contributor

Re: Letter of explanation multiple addresses

Congrats on getting this far! Just write the LOE, keep it short, sweet and to the point. It doesn't sound like anything to worry about! You'll be fine :-)

back to a seedling 3/17/18
Message 2 of 9
Contributor

Re: Letter of explanation multiple addresses

Thank you! I'm a natural born worrier so these next 30 days are going to be tough for me. I can't even pig out on comfort food and wine since we're saving like crazy! Lol
Message 3 of 9
Regular Contributor

Re: Letter of explanation multiple addresses

The same thing happened to me. My file showed two addresses. One was correct but had the wrong dates. Was also Showing that I lived there and at my current address at the same time. The other address had the wrong Apt bldg number and dates. They wanted to know if I owned the two properties since it was showing that I "lived" there. I just had to explain to them that they were apt leases and that the dates were wrong. No biggie. I know the feeling of not eating out. Save save save is all I'm doing. My builders are saying my house should be complete in roughly two months. And boy they cannot go by fast enough! Lol Good luck and try not to worry. I know it's easier said than done. Smiley Happy

Starting Scores in July 2015: TU 643; EQ 635; EX 651
Current FICO 8 Scores: TU: 724; EQ: 698; EX: 724
Mortgage scores: TU: 697; EQ: 682; EX: 654

Goal Score: 740 or above across the boardTake the myFICO Fitness Challenge
Message 4 of 9
Contributor

Re: Letter of explanation multiple addresses

@LuvTLH Oh that makes sense! Thanks for your response. I hope these next two months go quickly for you. Building a house sounds so exciting! I'm sure it's a different kind of worry, but it'll be so worth it.
Message 5 of 9
Established Member

Re: Letter of explanation multiple addresses

Don't fret. I had 9 show on my report! Just list them and keep it short and sweet. "Apartment rented" "Parent's family home" etc. It's not a red flag at all.
Message 6 of 9
Regular Contributor

Re: Letter of explanation multiple addresses


@Mrsg714 wrote:
@LuvTLH Oh that makes sense! Thanks for your response. I hope these next two months go quickly for you. Building a house sounds so exciting! I'm sure it's a different kind of worry, but it'll be so worth it.

You're welcome! It is very exciting! The waiting game is the killer! Lol 


Starting Scores in July 2015: TU 643; EQ 635; EX 651
Current FICO 8 Scores: TU: 724; EQ: 698; EX: 724
Mortgage scores: TU: 697; EQ: 682; EX: 654

Goal Score: 740 or above across the boardTake the myFICO Fitness Challenge
Message 7 of 9
Established Contributor

Re: Letter of explanation multiple addresses


@Mrsg714 wrote:
We have to write a LOE for multiple addresses that appear on my credit report. We have moved a lot during our marriage for various reasons. We had a couple of short term housing situations back when we weren't making very much money and once when we were going to try to buy a house two years ago. One of the short term apartments actually lists the time frame wrong so it looks like we were living two different places at once. Another address has the date wrong as well (listed as one month when we were there 2 years). I know it sounds crazy. We are much more stable now and one reason we want a house is so we can have the stability! Is this going to raise a red flag? What should we say as an explanation? At least we've shown great stability in our employment.

My husband had 7 address listed and I had 5. I did a letter of explanation stating I moved for more space. They didn't question it. They just needed everything on the credit report explained. I even had my name with first and last, and first, last and middle initial and they wanted an explanation for that. Smiley LOL

Message 8 of 9
Contributor

Re: Letter of explanation multiple addresses

I submitted the explanations for the addresses and it seemed to be ok. I also had to provide an explanation for the different reporting of my name format.
Message 9 of 9
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