Letter of explanation for previous addresses?

[Deleted]

We're scheduled to close on our loan this week. The underwriter requested a letter of explanation about our previous addresses. WTF? I don't even know what to say. Is "I used to live in those addresses" enough?

I looked online for example. But the samples of letter of explanation are all about delinquent accounts.

Any ideas what to say??? I'm lost. I guess I can call the mortgage broker and ask what I should say. It just seems so odd they want an explanation on my previous addresses. People move around. Why would they need to know why I lived in those addresses? Is the "why" what they want? Should I say, I lived there because it was all I could afford or because of location?

[Deleted]

Did you move a lot because of school or something? I was wondering if they wanted to know why you moved?

That is weird.

[FrozenSunshine]

Ask your broker. They asked a lot of questions about why we moved so frequently when we were buying our second house. I think short stints at addresses throws up a red flag.

[Deleted]

Nov 26, 2012 11:16:35 GMT -5 @randomcdn said:

Did you move a lot because of school or something? I was wondering if they wanted to know why you moved?

That is weird.

They are asking about my previous 2 addresses. One was in 2000-2001 at an apartment. So, I should say, "I moved to the apartment because it's all I could afford at the time and was convenient to work." Then I bought a house. Should I say, "I was at address #2 because I bought a house and was the best house I could afford?" These explanations sounds silly to me. Their request just sound soooo weird!

[sarahbear]

We had to do this with a refi. I wrote a letter saying....

To X,

My name used to live at ADDRESS from March 1999-April 2000.

Sincerely,
Me

In one instance it was a house before I was married so I added "prior to getting married I live at...."

[Deleted]

Nov 26, 2012 11:26:37 GMT -5 FrozenSunshine said:

Ask your broker. They asked a lot of questions about why we moved so frequently when we were buying our second house. I think short stints at addresses throws up a red flag.

I guess I can understand if one moved a lot and stayed at each address for short periods. But addresses in 2000 and 2001? I was at the apartment for 1 year and then 5yrs at the house. And now at my current address for 7yrs.

[magpie]

Not sure if is the same, but sounds familiar. I just had to sign some papers explaining my previous addresses for a refinance. They told me that we had to state that we did not own property at those addresses. We explained what they were (rentals wee had previously lived in), but we had to sign some extra form explicitly stating that we did not own them.

[Deleted]

Nov 26, 2012 11:30:49 GMT -5 sarahbear said:

We had to do this with a refi. I wrote a letter saying....

To X,

My name used to live at ADDRESS from March 1999-April 2000.

Sincerely,
Me

In one instance it was a house before I was married so I added "prior to getting married I live at...."

So, you didn't give a reason why you were at that address? Did they just need an acknowledgement that you lived at that address? So, it's not really a letter of explanation, right?

[heyrebekah]

Nov 26, 2012 11:29:55 GMT -5 d0ri said:

Nov 26, 2012 11:16:35 GMT -5 @randomcdn said:

Did you move a lot because of school or something? I was wondering if they wanted to know why you moved?

That is weird.

They are asking about my previous 2 addresses. One was in 2000-2001 at an apartment. So, I should say, "I moved to the apartment because it's all I could afford at the time and was convenient to work." Then I bought a house. Should I say, "I was at address #2 because I bought a house and was the best house I could afford?" These explanations sounds silly to me. Their request just sound soooo weird!

I wouldn't say that, it sounds like you're broke and defensive. Just say something like "I rented the apartment at XXX address from 2000-2001 because it was convenient to my place of work. I purchased my first home at XXX address in YEAR and lived there until moving to my current home in YEAR."

[Deleted]

Nov 26, 2012 11:36:13 GMT -5 heyrebekah said:

I wouldn't say that, it sounds like you're broke and defensive. Just say something like "I rented the apartment at XXX address from 2000-2001 because it was convenient to my place of work. I purchased my first home at XXX address in YEAR and lived there until moving to my current home in YEAR."

lol. Good point!

[LoveTrains]

I had to to dthis for my loan that closed earlier in November.

I just wrote, "I lived at XXX address from 19XX - 19XX. It is presently owned by my parents, and I do not have any ownership interest in this property."

I lived at XXX address from 20XX to 20XX. It was my mailing address in college and is owned by XX college.

I lived at XXX address from 20XX to 20XX. I rented an apartment there and do not have any ownership interest in the property.

My mortgage broker told me that they want to verify that you don't own any of the property at the old addresses.

[Deleted]

Nov 26, 2012 11:38:41 GMT -5 LoveTrains said:

I had to to dthis for my loan that closed earlier in November.

I just wrote, "I lived at XXX address from 19XX - 19XX. It is presently owned by my parents, and I do not have any ownership interest in this property."

I lived at XXX address from 20XX to 20XX. It was my mailing address in college and is owned by XX college.

I lived at XXX address from 20XX to 20XX. I rented an apartment there and do not have any ownership interest in the property.

My mortgage broker told me that they want to verify that you don't own any of the property at the old addresses.

I see. Thanks! I'll double check with the mortgage broker.

[fbf2006]

Interesting! I've had so many addresses in the past 10 years (3 in the past 5). This could get annoying.

[steph96]

Nov 26, 2012 11:38:41 GMT -5 LoveTrains said:

I had to to dthis for my loan that closed earlier in November.

I just wrote, "I lived at XXX address from 19XX - 19XX. It is presently owned by my parents, and I do not have any ownership interest in this property."

I lived at XXX address from 20XX to 20XX. It was my mailing address in college and is owned by XX college.

I lived at XXX address from 20XX to 20XX. I rented an apartment there and do not have any ownership interest in the property.

My mortgage broker told me that they want to verify that you don't own any of the property at the old addresses.

This is what we did. Boy was it hard remembering all of my addresses!

FI had an issue where his credit report said he lived at his moms house at the same time he was living in different addresses. He had to explain that his moms house was his permanent address that he used for important mail.