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 ...

Though it may seem outdated, a professionally written business letter can make all the difference in landing a deal, building relationships with potential clients or successfully navigating a dispute.

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 ...