if you was applying for a home loan, the underwriter ask you to write a letter of explanation stating why did you have items to go into collection from such a date, give an example of how you would write that letter

More info is needed.. without knowing what the collection item was, for how much, and what the circumstances were as to why you didn't pay, I cannot advise you how to write the letter.. But realistically, talk to your loan officer.. he should be able to help you write the letter that would be acceptable to the underwriter.. Typically, what they are looking for is ... this is what happened, I made a mistake, It wont happen again, here's what I've done to prevent it from happening again. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Your mortgage loan originator should be able to help you. I would suggest writing a letter of explanation that states the facts for the reason...what happened. and what is in place now at this time to make sure this type of negative payment history does not happen again.

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Tonja - various underwriters want to see this written in certain ways, and your loan officer should be able to assist you on what the person is looking for. I know that you want specifics, but without the complete information that is being requested, I would not be doing you any good with a response that may or may not be what is needed. If your lender does not help you, please reach out to me at 314-712-7474 or go to my website www.CallTheMoneyMan.com. Good luck.