Resources Tips for The Average Joe

Posted on Posted in Health Care & Medical

How To Write A Hardship Letter

You have just found a template on how to write a hardship letter. The letter that is written here below is the basic template which you can personalize and make additions as you like. A hardship letter can be used to apply successfully for a modification of a loan and hold the process of foreclosure.

When you know that you are not at per on your mortgage payments and afraid that there could be a looming foreclosure, you should visit or call your bank who have offered you the mortgage. There is the likelihood that you will be required to write a hardship letter which will help in discontinuing your foreclosure. The same letter is able to enable a short sale to your home.A hardship letter is a personal plea to your bank or financial institution informing them of your inability to pay your monthly agreed payments and explain what has caused this inability. It might sound easy, isn’t it? There is a lot more that goes in a hardship letter. A hardship letter is also important when requesting the bank for a loan modification. Here is your chance to plead with the bank to reconsider their process of foreclosure and approve your loan modification.

You will find the format on how to write a hardship letter.

Put in your as they appear on the mortgage.

Write the correct address of the location where the mortgage is located.

Write the name of the bank.

Your loan number: Enter your mortgage number as it appears on the papers.

Write the subject matter here being the firm or person who is your mitigator.

The aim of this letter is to inform you of the sequence of events that have caused my inability to honor our obligation on the mortgage payments. Regardless of our efforts to pay the mortgage we realize we are still very far behind. As a result we would request you to help us by approving a loan modification for our mortgage. We will be happy if you can do all you do to help us.

The main reason why we have been late in paying the mortgage payments is, (enter your reason here, be clear and precise ).

We hope you will approve the modification loan for our benefit. We hope you would engage us so that the monthly payments are lessened and we stay at our home with no foreclosures until we can be able to resume payments again.

We are hopeful that you will help us and remain waiting for the way forward on this matter.

End the letter with your signature, your full names and the date.

5 Key Takeaways on the Road to Dominating Letters

If You Read One Article About Options, Read This One