Vermont Sample Letter regarding Modification Agreement

• Category: Letters - Legal - Agreements
• State: Multi-State
• Control #: US-0815LTR
• Format: Word; Rich Text

Description

Sample Letter regarding Modification Agreement [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Designation] [Bank/Financial Institution Name] [Address] [City, State, ZIP] Subject: Request for Loan Modification Agreement — Account No: [Account Number] Dear [Recipient's Name], I hope this letter finds you well. I am writing to request a modification agreement for my existing loan with [Bank/Financial Institution Name]. As a responsible borrower, I have been diligently repaying my loan; however, due to unforeseen circumstances, I am currently experiencing financial difficulties which have made it challenging for me to meet my monthly mortgage payments. I am a resident of Vermont and would greatly appreciate your understanding and willingness to modify the terms of my loan agreement. I believe that a modification agreement would be a beneficial solution for both parties involved, as it would enable me to continue making timely mortgage payments while avoiding the risk of default. As per the provisions outlined in the Home Affordable Modification Program (CAMP) guidelines and the Vermont state regulations, I am presenting the necessary supporting documentation for your review. These include: 1. Financial Information: — Recent pay stub— - Income tax returns for the past two years — Bank statements for the last three months — Proof of any additional income or benefits (if applicable) 2. Financial Hardship Explanation: — Detailed explanation of the financial hardship I am currently facing — Documentation supporting the nature of the hardship (e.g., medical bills, unemployment letters, etc.) — Any relevant supporting documents (e.g., divorce decrees, death certificates, etc.) 3. Proposed Modification Terms: — A clear statement of my proposed modification terms, including changes to: — Interest rat— - Loan duration - Monthly payment amount — Principal reduction (if applicable) I kindly request that you consider this modification agreement and inform me of your decision within a reasonable timeframe. I would be grateful for any assistance or guidance you can provide throughout this process. Please find enclosed all the necessary documents, duly completed and signed. Should you require any additional information or if there are any other specific forms or documentation that need to be completed, kindly inform me, and I will promptly provide them. I want to assure you of my commitment and determination to resolve this situation. I understand the importance of fulfilling my financial responsibilities and believe that a loan modification agreement will allow me to do so while also maintaining a positive relationship with [Bank/Financial Institution Name]. Furthermore, I appreciate your attention to this matter and look forward to a positive resolution. Please do not hesitate to contact me at [Phone Number] or [Email Address] should you require any further information or have any questions. Thank you for your understanding and cooperation. Sincerely, [Your Name]

[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Designation] [Bank/Financial Institution Name] [Address] [City, State, ZIP] Subject: Request for Loan Modification Agreement — Account No: [Account Number] Dear [Recipient's Name], I hope this letter finds you well. I am writing to request a modification agreement for my existing loan with [Bank/Financial Institution Name]. As a responsible borrower, I have been diligently repaying my loan; however, due to unforeseen circumstances, I am currently experiencing financial difficulties which have made it challenging for me to meet my monthly mortgage payments. I am a resident of Vermont and would greatly appreciate your understanding and willingness to modify the terms of my loan agreement. I believe that a modification agreement would be a beneficial solution for both parties involved, as it would enable me to continue making timely mortgage payments while avoiding the risk of default. As per the provisions outlined in the Home Affordable Modification Program (CAMP) guidelines and the Vermont state regulations, I am presenting the necessary supporting documentation for your review. These include: 1. Financial Information: — Recent pay stub— - Income tax returns for the past two years — Bank statements for the last three months — Proof of any additional income or benefits (if applicable) 2. Financial Hardship Explanation: — Detailed explanation of the financial hardship I am currently facing — Documentation supporting the nature of the hardship (e.g., medical bills, unemployment letters, etc.) — Any relevant supporting documents (e.g., divorce decrees, death certificates, etc.) 3. Proposed Modification Terms: — A clear statement of my proposed modification terms, including changes to: — Interest rat— - Loan duration - Monthly payment amount — Principal reduction (if applicable) I kindly request that you consider this modification agreement and inform me of your decision within a reasonable timeframe. I would be grateful for any assistance or guidance you can provide throughout this process. Please find enclosed all the necessary documents, duly completed and signed. Should you require any additional information or if there are any other specific forms or documentation that need to be completed, kindly inform me, and I will promptly provide them. I want to assure you of my commitment and determination to resolve this situation. I understand the importance of fulfilling my financial responsibilities and believe that a loan modification agreement will allow me to do so while also maintaining a positive relationship with [Bank/Financial Institution Name]. Furthermore, I appreciate your attention to this matter and look forward to a positive resolution. Please do not hesitate to contact me at [Phone Number] or [Email Address] should you require any further information or have any questions. Thank you for your understanding and cooperation. Sincerely, [Your Name]