The owner shall be entitled to receive from the holder of the obligation a written statement setting forth the total amount to be paid as of a particular date. Provide a clear explanation: Your letter should acknowledge and indicate why something happened.Use our free Virginia promissory note template to complete a loan note in Virginia. Create legally binding agreements in minutes with PandaDoc. A letter of explanation is a brief document you can use to explain something, like a previous bankruptcy, in your financial or employment history. All the forms and documents you need for originating, underwriting and closing Virginia Housing single family mortgage loans are available in electronic format. Learn how the Virginia foreclosure process works, including preforeclosure steps, foreclosure procedures, and homeowner rights.