Los Angeles California Sample Letter for Insufficient Amount to Reinstate Loan

• Category: Letters - Loans and Lending - Reinstatements
• State: Multi-State
• County: Los Angeles
• Control #: US-0791LTR
• Format: Word; Rich Text

Description

This form is a sample letter in Word format covering the subject matter of the title of the form. [Your Name] [Your Address] [City, State, Zip Code] [Email Address] [Phone Number] [Date] [Loan Servicing Company] [Loan Servicing Company Address] [City, State, Zip Code] Subject: Insufficient Amount to Reinstate Loan — [Loan Account Number] Dear [Loan Servicing Company], I am writing to address the issue regarding the insufficient amount I provided earlier to reinstate my loan agreement for the property located at [property address] in Los Angeles, California. As a responsible borrower, I am committed to rectifying the outstanding balance promptly in order to reinstate the loan and avoid any further consequences. Unfortunately, due to [explain the reason for insufficient amount, such as unexpected medical expenses or loss of employment], I am currently unable to provide the full reinstatement amount as originally requested by you. However, I am prepared to make a good faith effort to rectify the situation and request your consideration for an alternative arrangement to reinstate the loan. Considering my genuine commitment to resolving this matter and my long-standing relationship as a valued customer, I kindly request your cooperation and understanding in finding a mutually beneficial solution. In order to expedite the resolution process, I propose the following options: 1. Partial Reinstatement: I am able to provide a percentage of the outstanding amount immediately along with a detailed payment plan to settle the remaining balance within an agreed upon timeframe. This would enable me to reinstate the loan while ensuring a feasible repayment structure for both parties. 2. Loan Modification: If the partial reinstatement option is not feasible, I humbly request that you consider a loan modification. This could include extending the term of the loan, lowering the interest rate, or adjusting the monthly payment amount, making it more manageable for me to reinstate the loan. It is my utmost priority to resolve this issue and restore my loan account to good standing. I am fully committed to meeting my financial obligations and seek your guidance and support in finding the most appropriate solution. I understand that any revised agreement or modification will be subject to your review and approval. Furthermore, I kindly request that you provide me with a written response within [specify a reasonable timeframe, e.g. 14 days] to discuss the proposed options further. Furthermore, I am available at your convenience to discuss any possible arrangements or to provide any additional information that might be required. Furthermore, I greatly appreciate your attention to this matter and sincerely hope that we can reach a mutually beneficial resolution. Your cooperation and understanding are highly valued. Thank you for your prompt attention. Sincerely, [Your Name]

[Your Name] [Your Address] [City, State, Zip Code] [Email Address] [Phone Number] [Date] [Loan Servicing Company] [Loan Servicing Company Address] [City, State, Zip Code] Subject: Insufficient Amount to Reinstate Loan — [Loan Account Number] Dear [Loan Servicing Company], I am writing to address the issue regarding the insufficient amount I provided earlier to reinstate my loan agreement for the property located at [property address] in Los Angeles, California. As a responsible borrower, I am committed to rectifying the outstanding balance promptly in order to reinstate the loan and avoid any further consequences. Unfortunately, due to [explain the reason for insufficient amount, such as unexpected medical expenses or loss of employment], I am currently unable to provide the full reinstatement amount as originally requested by you. However, I am prepared to make a good faith effort to rectify the situation and request your consideration for an alternative arrangement to reinstate the loan. Considering my genuine commitment to resolving this matter and my long-standing relationship as a valued customer, I kindly request your cooperation and understanding in finding a mutually beneficial solution. In order to expedite the resolution process, I propose the following options: 1. Partial Reinstatement: I am able to provide a percentage of the outstanding amount immediately along with a detailed payment plan to settle the remaining balance within an agreed upon timeframe. This would enable me to reinstate the loan while ensuring a feasible repayment structure for both parties. 2. Loan Modification: If the partial reinstatement option is not feasible, I humbly request that you consider a loan modification. This could include extending the term of the loan, lowering the interest rate, or adjusting the monthly payment amount, making it more manageable for me to reinstate the loan. It is my utmost priority to resolve this issue and restore my loan account to good standing. I am fully committed to meeting my financial obligations and seek your guidance and support in finding the most appropriate solution. I understand that any revised agreement or modification will be subject to your review and approval. Furthermore, I kindly request that you provide me with a written response within [specify a reasonable timeframe, e.g. 14 days] to discuss the proposed options further. Furthermore, I am available at your convenience to discuss any possible arrangements or to provide any additional information that might be required. Furthermore, I greatly appreciate your attention to this matter and sincerely hope that we can reach a mutually beneficial resolution. Your cooperation and understanding are highly valued. Thank you for your prompt attention. Sincerely, [Your Name]