Salt Lake Utah Sample Letter for Short Sale Request to Lender

• Category: Real Estate - Foreclosures
• State: Multi-State
• County: Salt Lake
• 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] [Bank Name] [Bank Address] [City, State, ZIP Code] Subject: Short Sale Request for Property in Salt Lake City, Utah Dear [Lender's Name], I am writing to formally request your cooperation and consideration for a short sale of my property located in Salt Lake City, Utah. I am currently faced with financial difficulties due to [briefly explain the reasons for your financial hardship, such as job loss, medical expenses, or divorce]. As a result, I am unable to meet the financial obligations of my mortgage. Property Information: — Property Address: [Full Address of the property] — Loan Number: [Your Loan Number— - Current Market Value: [Estimated Current Market Value] — Mortgage Balance: [Outstanding Mortgage Balance] I have made every effort to exhaust all available options to resolve my financial struggle but have come to the conclusion that a short sale presents the most viable solution. I am hopeful that through your assistance, we can reach a mutually beneficial agreement that will prevent the foreclosure process and help me alleviate the financial burden. Reasons for the Short Sale Request: 1. Financial Hardship: [Provide details on the specific financial challenges you are facing, clearly explaining how they have impacted your ability to pay the mortgage] 2. Declining Property Values: [Describe the current market conditions in the Salt Lake City area, showing evidence of declining property values] 3. Inability to Reinstate Loan: [If applicable, explain your inability to bring the mortgage current and reinstate the loan] Please find enclosed the required documentation to support my short sale request: — Financial Hardship Letter: [Explain the reasons for your financial hardship in detail] — Authorization to Release Information: [Provide a signed authorization allowing the lender to discuss your loan details with a designated representative] — Proof of Income: [Provide recent pay stubs, bank statements, and any other relevant documentation demonstrating your current financial situation] — Comparative Market Analysis (CMA): [Include a Realtor's report on the current market value of your property in Salt Lake City] — Supporting Documents: [Any additional documentation that substantiates your financial hardship, such as medical bills, divorce decree, or bankruptcy filing] I understand that a short sale may have an impact on my credit score and that we will need to negotiate the terms and conditions of the sale. I am willing to cooperate fully throughout this process to ensure a smooth and efficient transaction. I kindly request that you assign a dedicated representative to handle my case and keep me informed about the progress of my short sale request. Furthermore, I am available at your convenience to provide any additional information required or answer any questions you may have. Thank you for your prompt attention to this matter. I sincerely hope that we can reach a resolution that benefits all parties involved. I appreciate your understanding and cooperation. Yours sincerely, [Your Name]

[Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Bank Name] [Bank Address] [City, State, ZIP Code] Subject: Short Sale Request for Property in Salt Lake City, Utah Dear [Lender's Name], I am writing to formally request your cooperation and consideration for a short sale of my property located in Salt Lake City, Utah. I am currently faced with financial difficulties due to [briefly explain the reasons for your financial hardship, such as job loss, medical expenses, or divorce]. As a result, I am unable to meet the financial obligations of my mortgage. Property Information: — Property Address: [Full Address of the property] — Loan Number: [Your Loan Number— - Current Market Value: [Estimated Current Market Value] — Mortgage Balance: [Outstanding Mortgage Balance] I have made every effort to exhaust all available options to resolve my financial struggle but have come to the conclusion that a short sale presents the most viable solution. I am hopeful that through your assistance, we can reach a mutually beneficial agreement that will prevent the foreclosure process and help me alleviate the financial burden. Reasons for the Short Sale Request: 1. Financial Hardship: [Provide details on the specific financial challenges you are facing, clearly explaining how they have impacted your ability to pay the mortgage] 2. Declining Property Values: [Describe the current market conditions in the Salt Lake City area, showing evidence of declining property values] 3. Inability to Reinstate Loan: [If applicable, explain your inability to bring the mortgage current and reinstate the loan] Please find enclosed the required documentation to support my short sale request: — Financial Hardship Letter: [Explain the reasons for your financial hardship in detail] — Authorization to Release Information: [Provide a signed authorization allowing the lender to discuss your loan details with a designated representative] — Proof of Income: [Provide recent pay stubs, bank statements, and any other relevant documentation demonstrating your current financial situation] — Comparative Market Analysis (CMA): [Include a Realtor's report on the current market value of your property in Salt Lake City] — Supporting Documents: [Any additional documentation that substantiates your financial hardship, such as medical bills, divorce decree, or bankruptcy filing] I understand that a short sale may have an impact on my credit score and that we will need to negotiate the terms and conditions of the sale. I am willing to cooperate fully throughout this process to ensure a smooth and efficient transaction. I kindly request that you assign a dedicated representative to handle my case and keep me informed about the progress of my short sale request. Furthermore, I am available at your convenience to provide any additional information required or answer any questions you may have. Thank you for your prompt attention to this matter. I sincerely hope that we can reach a resolution that benefits all parties involved. I appreciate your understanding and cooperation. Yours sincerely, [Your Name]