letter explaining credit inquiries

LETTER OF EXPLANATION – CREDIT REPORT INQUIRIES A number of inquiries are showing on our credit report in the last 90 days. All credit related inquiries are only because of our shopping for mortgage loans. We have not incurred any new debt or obtained a mortgage loan during this period. amit khosla 5/12/2010 Priya Khosla 5/12/2010

Lenders require you to explain risky aspects of your credit history and any discrepancies on your application. They request written letters of explanation for late payments, bankruptcies and foreclosures to determine whether circumstances beyond your control led to your financial troubles and whether your credit problems are likely to recur.

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Use this letter to ask for removal of credit inquiries. If you have recently aquired copies of your credit reports, you may notice an "Inquiries" section toward the end of each of the reports. These credit inquiries will be broken into two types – soft inquiry and a hard inquiry .

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Free Letters of Explanations for Credit Inquiries 2 Sample Letters Explaining credit inquiries. customizing Your Letter. It’s a good idea to end your letter with a brief statement about why. Tips for Using Letters of Explanation. When you submit a letter of explanation, Explaining Your.

Letter of Explanation (Credit Inquiries). Borrower Name and Address: Loan #:. Please write a brief explanation of the following inquiries on your credit report.

Please answer the following questions regarding the recent credit inquiries OR other mortgage lender activity: Did any of these inquiries result in an open account other than new loan w/ Pacific Banc? YES NO If the inquiry did result in an open account, please provide your most recent statement or internet printout indicating current balance

Every time you are applying for a big loan credit institution wants to understand your borrowing habits. When they see an inquiry but no account on your report they want to know what you applied for to get an idea of what to expect. Hard and soft.

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Too many credit cards or inquiries. Even if you maintain low balances. Though it sounds sinister, this letter actually contains helpful information that can clue you in to why you were denied..