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Reasons For Writing A Hardship Letter

For anybody looking for a hardship template for a hardship letter look no more. Below is a standard template that can be personalized and added to as you need. With a hardship letter you can stop the process of foreclosure and also be able to a loan modification.

Soonest you realize that you are behind payments of your monthly mortgage and fear that a foreclosure could be coming up, you need to call or visit your financial institution with whom your mortgage is. It is likely that you will be asked to write a hardship letter so that the foreclosure can be stopped. This type of letter also acts as a letter to do a short sale on your house.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? However there is a lot more to just this. A hardship letter is also important when requesting the bank for a loan modification. This is the time you have to appeal to the bank to end the foreclosure process of your home and endorse the loan modification.

This is the simple hardship letter.

Name: Should be your full name as it appears on your papers for the mortgage.

Indicate the location where the mortgage.

Write the name of the bank.

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

Enter the person or the firm on this line for the subject matter.

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. 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 request if you would work with us to lessen the monthly payments that we have been making to enable us to stay at our home until such time as when we will be able to honor our mortgage payments.

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.

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