Hardship Letter For Loan Modification
Description
How to fill out Hardship Letter To Mortgagor Or Lender To Prevent Foreclosure?
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FAQ
Tips for Writing a Hardship LetterKeep 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.Talk to a Financial Couch.
You have to be suffering a financial hardship. This may be a loss of a job or reduced income, a serious illness, costly medical bills, a balloon payment due on your mortgage, a divorce or excessive debt are all examples.
I am writing to appeal the loan modification denial I received on (insert date of denial letter). The denial letter is attached for your reference (attached denial letter). I am appealing my denial on the basis of(insert why you believe you should not have been denied).
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.
How to Write an Effective Hardship LetterPart 1: Explain what happened and why you are applying.Part 2: Specifically illustrate the time and severity of the hardship.Part 3: Back up the reasons traditional remedies won't work.Part 4: Detail why you are stable enough to succeed with a modification.More items...?