How to write a hardship letter for loan modification
Be clear and honest when describing the steps you have taken so far.
Connect with free counseling resources or locate homeowner events in your community. Despite my efforts, I was not able to find additional employment until last month.
Some lenders even consider adoption a hardship. Be specific with your direction and tell the creditor exactly what you want them to do. You should also be prepared to dive into your situation at a greater length in person or on the phone.
Dispute letter for loan modification
However, we will need your assistance to develop a plan to help us achieve this. You need to prove that you experienced a genuine hardship and that it compromised your ability to pay. This can be anything from budgeting more carefully to finding a new job or liquidating assets. Because of this loss of income, I have fallen behind on my mortgage payments and sunk into credit card debt to stay afloat. Despite my efforts, I was not able to find additional employment until last month. There is a wealth of information available to assist homeowners in danger of foreclosure. Under normal circumstances we can easily meet our mortgage obligations. You must convince your lender that you have no other means of mortgage assistance, and that you will stay on track if they grant your request. I, me, and we , and always have your client sign it personally.
What are you doing to address the root cause s of the hardship if you have any control over them and recover your financial footing? Eliminate all unnecessary details and keep only those that are relevant to your case.
Sample hardship letter for loan modification due to illness
Other Possible Reasons for Hardship Requests There are many reasons other than unemployment, divorce and serious illness that may lead to a homeowner needing to request a loan modification. However, we will need your assistance to develop a plan to help us achieve this. You must make it clear that you will only succeed with their help. We would appreciate your help in working out a reduction of the amount we owe the bank so we can keep our home. Keep it to one page. What is the Goal of the Hardship Letter? Why did you they fall behind? It is there for your benefit.
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