District of Columbia Sample Letter regarding Stop of Foreclosure Sale

• Category: Letters - Legal - Foreclosures
• State: Multi-State
• Control #: US-0784LTR
• Format: Word; Rich Text

Description

This form is a sample letter in Word format covering the subject matter of the title of the form. District of Columbia Sample Letter regarding Stop of Foreclosure Sale: [Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Loan Service's Name] [Loan Service's Address] [City, State, ZIP Code] Subject: Request to Halt Foreclosure Sale for Property at [Property Address] Dear [Loan Service's Name], I am writing to you today to urgently request the immediate halt of the foreclosure sale proceedings for my property located at [Property Address] in the District of Columbia. I have been informed by [Provide Source of Information, such as attorney or foreclosure notice] that a foreclosure sale is currently scheduled for [Foreclosure Sale Date], and I am seeking your assistance to stop this process. I would like to briefly explain the reasons behind my request. [Explain the circumstances that led to the foreclosure, including unexpected financial difficulties, loss of employment, medical issues, or any other relevant factors]. Due to these unforeseen circumstances, I have encountered temporary difficulties in keeping up with my mortgage payments, leading to the current foreclosure proceedings. However, I firmly believe that with some assistance and a mutually agreeable resolution, I can regain my financial stability and rectify the delinquency. To support this endeavor, I have [Explain what steps you have taken to address the situation, such as seeking financial advice, attending homeowner counseling programs, or making partial payments if applicable]. I understand the seriousness of the situation and the need to address the arrears promptly. Therefore, I propose the following potential solutions to help avoid the foreclosure sale: 1. Loan Modification: I kindly request a loan modification to restructure the terms of the existing mortgage loan. This may involve extending the loan term, lowering the interest rate, or reducing the monthly payments to a manageable level. 2. Forbearance Agreement: If a loan modification is not currently feasible, I request a forbearance agreement to temporarily suspend or reduce my mortgage payments for a specific period. This will allow me to overcome the financial hurdles and resume regular payments thereafter. 3. Repayment Plan: I am willing to work out a detailed repayment plan to gradually clear the arbitrages. By combining the delinquent amount with regular monthly payments, I aim to bring my mortgage current within a manageable period determined by both parties. I understand that lenders and loan services are generally willing to assist borrowers in avoiding foreclosure whenever possible. I kindly ask that you consider my proposals and communicate your decision, along with any additional requirements or alternative solutions, within 15 days of receiving this letter. Furthermore, I would appreciate the opportunity to discuss my situation in more detail and explore all possible options during a face-to-face meeting or over the phone. I believe that transparency and effective communication are crucial to finding the most appropriate resolution for both parties involved. Please find enclosed the following documents as supporting evidence of my current financial situation: — [List of supporting documents, such as pay stubs, bank statements, tax returns, and hardship letter] I genuinely hope that we can reach a favorable resolution that allows me to retain ownership of my home. I am committed to rectifying the outstanding balance and working collaboratively with you to achieve this goal. Thank you for your immediate attention to this matter. I look forward to receiving your correspondence and appreciate your understanding during this challenging period. Sincerely, [Your Name]

District of Columbia Sample Letter regarding Stop of Foreclosure Sale: [Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Loan Service's Name] [Loan Service's Address] [City, State, ZIP Code] Subject: Request to Halt Foreclosure Sale for Property at [Property Address] Dear [Loan Service's Name], I am writing to you today to urgently request the immediate halt of the foreclosure sale proceedings for my property located at [Property Address] in the District of Columbia. I have been informed by [Provide Source of Information, such as attorney or foreclosure notice] that a foreclosure sale is currently scheduled for [Foreclosure Sale Date], and I am seeking your assistance to stop this process. I would like to briefly explain the reasons behind my request. [Explain the circumstances that led to the foreclosure, including unexpected financial difficulties, loss of employment, medical issues, or any other relevant factors]. Due to these unforeseen circumstances, I have encountered temporary difficulties in keeping up with my mortgage payments, leading to the current foreclosure proceedings. However, I firmly believe that with some assistance and a mutually agreeable resolution, I can regain my financial stability and rectify the delinquency. To support this endeavor, I have [Explain what steps you have taken to address the situation, such as seeking financial advice, attending homeowner counseling programs, or making partial payments if applicable]. I understand the seriousness of the situation and the need to address the arrears promptly. Therefore, I propose the following potential solutions to help avoid the foreclosure sale: 1. Loan Modification: I kindly request a loan modification to restructure the terms of the existing mortgage loan. This may involve extending the loan term, lowering the interest rate, or reducing the monthly payments to a manageable level. 2. Forbearance Agreement: If a loan modification is not currently feasible, I request a forbearance agreement to temporarily suspend or reduce my mortgage payments for a specific period. This will allow me to overcome the financial hurdles and resume regular payments thereafter. 3. Repayment Plan: I am willing to work out a detailed repayment plan to gradually clear the arbitrages. By combining the delinquent amount with regular monthly payments, I aim to bring my mortgage current within a manageable period determined by both parties. I understand that lenders and loan services are generally willing to assist borrowers in avoiding foreclosure whenever possible. I kindly ask that you consider my proposals and communicate your decision, along with any additional requirements or alternative solutions, within 15 days of receiving this letter. Furthermore, I would appreciate the opportunity to discuss my situation in more detail and explore all possible options during a face-to-face meeting or over the phone. I believe that transparency and effective communication are crucial to finding the most appropriate resolution for both parties involved. Please find enclosed the following documents as supporting evidence of my current financial situation: — [List of supporting documents, such as pay stubs, bank statements, tax returns, and hardship letter] I genuinely hope that we can reach a favorable resolution that allows me to retain ownership of my home. I am committed to rectifying the outstanding balance and working collaboratively with you to achieve this goal. Thank you for your immediate attention to this matter. I look forward to receiving your correspondence and appreciate your understanding during this challenging period. Sincerely, [Your Name]