letter of explanation for large deposits

Over-simplified, you probably have three options: Keep the earnest-money deposit. I hope there was a large deposit. a strong letter, demanding they either go to settlement within the next 10 days.

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A Letter of Explanation is a simple few lines giving an underwriter insight into something flagged in the file such as odd deposits or credit issues.

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Purchase Agreement (if purchase); Award letter (if retired); 1st Mortgage. Child Support / Alimony (if applicable); Business License or Letter from CPA (if self employed). Why Lenders Care About Large Deposits · Dropping in Value – What Can. She answered all my questions promptly, took the time to explain all the.

Money Matters: Be prepared to explain those large deposits. – Underwriters need to know the source of "large deposits" in a person’s. I will need a letter of explanation, the deposit slip, a copy of the check. explanation letter, Sample & Format – An Explanation letter is written to give an explanation or to justify a condition or.

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Dianna registered her son for a 38-hour course back in April and paid a deposit for a class. the two OMV officials asked for an explanation, “at which point Mr. Martinell became very agitated and.

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For example, it’s illegal for your landlord to keep your deposit without an explanation. Yet many renters accept this. You can also send them a demand letter. This is pretty much what it sounds.

"I know you have $200,000 in the bank and you only need $68,000 to settle on the home, but we can’t move forward until we know where this deposit for $1,300 came from. I will need a letter of explanation, the deposit slip, a copy of the check and maybe even the account as to where the check came from." Ouch! Moronic! Stupid!

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