Finding Parallels Between Papers and Life

Reasons For Writing A Hardship Letter

You have just found a template on how to write a hardship letter. You will find here below a basic template which can be customized to fit your requirements. With a hardship letter you can stop the process of foreclosure and also be able to a loan modification.

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. It is likely that you will be asked to write a hardship letter so that the foreclosure can be stopped. A short sale for your house is discontinued with this hardship letter. Hardship letter are personal coercion to your financial institution letting them know of your inability to service the loan and the reason behind this. It might sound easy, isn’t it? However there is a lot more to just this. The loan modification is also a reason why the hardship is written. Here is your chance to plead with the bank to reconsider their process of foreclosure and approve your loan modification.

This is the simple hardship letter.

Write your names exactly as they appear on the papers.

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

Write the name of the bank.

Write your loan number just as it is on your mortgage paper.

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

The purpose of this letter is to let you know what happened that we are unable to pay our mortgage payments. Despite any efforts that are with us to pay the mortgage we are still far behind. As a result we would request you to help us by approving a loan modification for our mortgage. We will be grateful if you can use all that is in your capacity to assist 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 know we will be able to continue paying our mortgage but we request you to work with us so that we can reduce the monthly payments and we are allowed to stay in our home until then.

We hope you will help us and wait for the way forward with the matter.

The date, your signature ad your full names is the ways to end the letter.

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