Example Letter Explaining Financial Hardship
Description
How to fill out Hardship Letter To Mortgagor Or Lender To Prevent Foreclosure?
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Example letter I am sorry that I am unable to keep up my monthly payments to your company. I'm sick and unable to work. I've claimed benefits and I'm waiting to hear the outcome of my claim. My situation is unlikely to improve for at least 3 months.
Keep your hardship letter brief and to the point: four paragraphs is ideal, and no more than two pages. Be sure to include: Homeowner name(s), address(s), and phone number(s) and relevant loan number(s). Relevant details about the loan or property, such as the number of months delinquent, property value, or equity.
To Whom It May Concern: I am writing this letter to explain my unfortunate set of circumstances that have caused us to become delinquent on our mortgage. We have done everything in our power to make ends meet but unfortunately we have fallen short and would like you to consider working with us to modify our loan.
Keep your hardship letter brief and to the point: four paragraphs is ideal, and no more than two pages. Be sure to include: Homeowner name(s), address(s), and phone number(s) and relevant loan number(s). Relevant details about the loan or property, such as the number of months delinquent, property value, or equity.
Lenders may use them to determine whether or not to offer relief through reduced, deferred, or suspended payments. Hardship Examples. ... Keep it original. ... Be honest. ... Keep it concise. ... Don't cast blame or shirk responsibility. ... Don't use jargon or fancy words. ... Keep your objectives in mind. ... Provide the creditor an action plan.