Contra Costa California Sample Letter for Short Sale Request to Lender

• Category: Real Estate - Foreclosures
• State: Multi-State
• County: Contra Costa
• Control #: US-FORECL-08
• Format: Word; Rich Text

Description

This is a sample letter that may be sent to a lender to prevent foreclosure by requesting their agreement to a short sale. The letter may be customized to suit your needs. [Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Name of Lender] [Address of Lender] [City, State, ZIP Code] Subject: Request for Short Sale of Property [Property Address] Dear [Name of Lender], I hope this letter finds you well. I am writing to formally request a short sale for my property located at [Property Address] in Contra Costa County, California. Unfortunately, due to unforeseen circumstances and financial hardships, it has become increasingly difficult to meet my monthly mortgage obligations. I understand that a short sale may be a viable option to minimize the financial impact on both parties involved. In order to proceed with the short sale process, I kindly request your assistance and cooperation. Enclosed with this letter, you will find all the necessary documents and information required to facilitate the evaluation and approval of my short sale request. 1. Hardship Letter: This letter outlines the circumstances leading to my financial distress and inability to effectively meet my mortgage obligations. It explains the factors that have contributed to the negative equity of the property and provides an overview of my efforts to overcome these challenges. 2. Financial Statements: Attached are my updated financial statements, including bank statements, pay stubs, tax returns, and any other relevant documents that support my current financial situation. These documents serve to demonstrate the substantial decline in my financial stability and the inability to continue meeting my mortgage obligations. 3. Comparative Market Analysis (CMA): Alongside this letter, you will find a comprehensive CMA report prepared by a licensed real estate professional. This report supports the claim that the current fair market value of the property is significantly lower than the outstanding loan balance. It highlights the need for a short sale to avoid foreclosure and the associated costs for both parties. 4. Purchase Contract or Offer: Should a potential buyer or investor express interest in purchasing the property, I will promptly provide you with the purchase contract or offer, along with any related documentation. This will ensure transparency throughout the short sale process and enable timely decision-making. I sincerely hope that you will carefully review my short sale request and consider it in a timely manner. I am committed to cooperating fully throughout the process, providing any additional information or documentation required. Furthermore, I understand that a short sale may have an impact on my credit score, but it will help me avoid foreclosure and begin the process of recovering from my current financial hardship. Furthermore, I firmly believe that a short sale is in the best interest of all parties involved, as it will enable a satisfactory resolution for both the lender and the borrower. Thank you for your attention to this matter. I kindly request that you acknowledge receipt of this letter and provide me with a timeline for the evaluation of my short sale request. Please feel free to contact me at [Phone Number] or [Email Address] should you require any further information or clarification. I appreciate your understanding, cooperation, and prompt attention to this matter. Yours sincerely, [Your Name]

[Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Name of Lender] [Address of Lender] [City, State, ZIP Code] Subject: Request for Short Sale of Property [Property Address] Dear [Name of Lender], I hope this letter finds you well. I am writing to formally request a short sale for my property located at [Property Address] in Contra Costa County, California. Unfortunately, due to unforeseen circumstances and financial hardships, it has become increasingly difficult to meet my monthly mortgage obligations. I understand that a short sale may be a viable option to minimize the financial impact on both parties involved. In order to proceed with the short sale process, I kindly request your assistance and cooperation. Enclosed with this letter, you will find all the necessary documents and information required to facilitate the evaluation and approval of my short sale request. 1. Hardship Letter: This letter outlines the circumstances leading to my financial distress and inability to effectively meet my mortgage obligations. It explains the factors that have contributed to the negative equity of the property and provides an overview of my efforts to overcome these challenges. 2. Financial Statements: Attached are my updated financial statements, including bank statements, pay stubs, tax returns, and any other relevant documents that support my current financial situation. These documents serve to demonstrate the substantial decline in my financial stability and the inability to continue meeting my mortgage obligations. 3. Comparative Market Analysis (CMA): Alongside this letter, you will find a comprehensive CMA report prepared by a licensed real estate professional. This report supports the claim that the current fair market value of the property is significantly lower than the outstanding loan balance. It highlights the need for a short sale to avoid foreclosure and the associated costs for both parties. 4. Purchase Contract or Offer: Should a potential buyer or investor express interest in purchasing the property, I will promptly provide you with the purchase contract or offer, along with any related documentation. This will ensure transparency throughout the short sale process and enable timely decision-making. I sincerely hope that you will carefully review my short sale request and consider it in a timely manner. I am committed to cooperating fully throughout the process, providing any additional information or documentation required. Furthermore, I understand that a short sale may have an impact on my credit score, but it will help me avoid foreclosure and begin the process of recovering from my current financial hardship. Furthermore, I firmly believe that a short sale is in the best interest of all parties involved, as it will enable a satisfactory resolution for both the lender and the borrower. Thank you for your attention to this matter. I kindly request that you acknowledge receipt of this letter and provide me with a timeline for the evaluation of my short sale request. Please feel free to contact me at [Phone Number] or [Email Address] should you require any further information or clarification. I appreciate your understanding, cooperation, and prompt attention to this matter. Yours sincerely, [Your Name]