Sentences with phrase «explanation for late payments»
Most investors will want to see an acceptable explanation for any late payments in the 12 months preceding the loan application.
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The good news is that certain lenders may only be concerned with the previous 12 months of credit history and a suitable explanation for late payments may be enough to soothe things over.
If there were legitimate explanations for those late payments, such as a one - time event like a job loss or health issue, the applicant should make sure the bank knows that.»
Not exact matches
Paul Seamus Ryan, vice president for policy and litigation at Common Cause, said the latest explanation of the payment — that Mr. Trump reimbursed Mr. Cohen — does not eliminate the possibility that the payment violated campaign finance laws.
If there any credit problems - a history of late payments, foreclosures or judgements, your lender may then ask you for a written explanation or clarification of any problems.
Often, FHA will review one or two instances of late payments and if you have a sufficient explanation for why it was late, it may be accepted.
If there any credit problems - a history of late payments, foreclosures or judgements, your lender may then ask you for a written explanation or clarification of any problems.