Credit Infocenter

Letter Explaining Late Payments - Applying for Credit, Applying for a Mortgage Loan

Letter to Explain Late Payments When Applying for Credit - Sample Letter 14

How to write a letter explaining your mortgage and/or other late payments when applying for credit.

So you have gotten your credit report in the best shape possible and you are trying to buy a home. BUT, your credit still has some dings. Even though you may qualify, the lender will ALWAYS ask you to explain any late payments on your report. This letter will not help a desperate credit situation, but may make a difference in a marginal one.

The basic premise of this letter is:

This letter is part of our mortgage information section. We have other sample letters to handle a variety of credit situations. Here is the list.

866.785.9884 Call for a FREE credit repair consultation & FICO® score from Lexington Law

To Whom it May Concern:

I am writing this letter to explain my late payments on my (mortgage) to (mortgage company) and to (other creditors) in (insert dates).

I am very distressed that this has ever happened to me, but I was <laid off>, <seriously injured>, <going through a death in family> . The circumstances drained my carefully put aside savings and I was forced to miss a payment because of it. My financial advisor told me not to tap into my 401K, and I was able to recover from this crisis and begin making on-time payments.

I have always prided myself in paying on time, and I have taken steps to put away more money in my savings account to guard against other unforeseen occurrences like this.

Sincerely,

Your Signature

Credit Repair Letters Special Offer from Credit Info Center

Call 800.461.0524 and speak to a Credit Repair Expert at Lexington Law
Have Questions About Credit Repair? Get Answers with a FREE Consultation
Call Lexington Law 1-800-461-0524