SAMPLE HARDSHIP LETTER - Mortgage Relief Project.
If so, you'll need to write and send a hardship letter that provides information on the circumstances that led to your current financial situation paired with a request to consider different loan terms. Here are three sample letters, each one based on a different financial hardship situation, that you can download and edit to create a hardship letter customized to your needs.
How to Write a Hardship Letter When to Write a Hardship Letter. Chances are, if you are asking for something like a loan modification or short sale, your lender is going to ask why. They’ll want you to provide a hardship letter as an explanation. It’s your chance, in your own words, to describe why you will not be able, for example, to continue paying your mortgage. Examples of Hardship.
Sample Loan Modification Letter: Date. Your Name Your address: Your Bank’s Name Loan number: To Whom It May Concern: This letter explains the difficult situation which caused me to fall behind on my mortgage payments. I would like to be considered for a loan modification to decrease my payments, fix my interest rate at a lower rate, and recapitalize or forgive the delinquent payments in.
How to Write a Heartfelt Hardship Letter to a Mortgage Company. It’s crunch time and your mortgage payments have lagged behind. You’ve decided to ask your lender for a loan modification to.
Tips for Writing a Hardship Letter 1. Keep it original. The purpose of a hardship letter is to convey a sense of sincerity, honesty, and commitment to your lender. Directly copying a letter found online may not convey the right amount of integrity your lender is looking for. Find a hardship letter template to use as a baseline for your own.
The letter is most commonly sent to a lender to request consolidation of outstanding debts, or to request a little leniency in relation to payment deadlines. This can range from medical bills, to credit card debts, to the foreclosure of a property. Letters of financial hardship may also be written by students who cannot afford higher levels of education, in hope of a grant, scholarship, or.
Many people make the mistake of spending very little time thinking about and drafting their hardship letter or, even worse, they simply copy a sample letter off the Internet. Because the loss mitigation representative who will review your file has most likely read literally hundreds of these letters, it’s imperative that your letter be genuine. The best hardship letters don’t use a.