If your credit report has any negative history, a lender may require a letter of explanation for a mortgage application. Needing a letter of explanation isn't a cause for panic, but it's something you ...

A letter of explanation for a mortgage is a document that addresses red flags that might derail a mortgage approval, such as a period of unemployment or an unpaid credit balance. A letter of ...

If your credit report has any negative history, or if there is something in your mortgage application that requires more information, a lender may ask you to submit a “letter of explanation.” This isn ...