Subject: Request for Short Sale Assistance — Property in Suffolk, New York Dear [Lender's Name], I hope this letter finds you well. I am writing to request your assistance in reviewing and approving a short sale for my property located in Suffolk, New York. Due to unforeseen financial hardship, I am unable to continue making mortgage payments and am I facing the imminent threat of foreclosure. Hence, I believe a short sale would be the best solution for all parties involved. Property Details: Address: [Property Address] Loan Reference Number: [Loan Number] Property Type: [Single Family Home/Condo/Townhouse] Market Value: [Current Appraisal Value or Estimate] Remaining Loan Balance: [Outstanding Mortgage Amount] Date of Purchase: [Purchase Date] Financial Hardship Explanation: Provide a detailed account of the reasons for the financial hardship you are facing. This may include job loss, medical emergencies, divorce, or any other significant life event that has negatively impacted your financial situation. Homeowner's Efforts to Sell: Outline the proactive measures you have taken to sell the property and alleviate the financial burden. This can include listing the property with a real estate agent, reducing the asking price, or any marketing strategies implemented to attract potential buyers. Property's Market Condition: Highlight the current market condition in Suffolk, New York, and specifically your neighborhood. Provide data on median home prices, average days on market, and any relevant information about the local real estate market that supports the need for a short sale. Comparative Market Analysis (CMA): Include a thorough CMA report prepared by a local real estate agent or appraiser. This analysis should present recent sales of similar properties in your area, demonstrating that the current market value of your home is significantly below the outstanding loan balance. Estimated Net Proceeds: Prepare a breakdown of expected expenses, including outstanding mortgage debt, closing costs, real estate commissions, and any other relevant fees or expenses. Show the lender an estimate of the net proceeds you expect to receive from the short sale. Financial Documentation: Attach supporting financial documents such as bank statements, pay stubs, tax returns, and any evidence of your current financial situation to provide further credibility to your request. Loan Servicing and Investor Information: Include the information about your loan service and the lender's investor, if known, to assist in streamlining the short sale negotiation process. Conclusion: Reiterate your request for the lender's cooperation and understanding in granting approval for the short sale. Express your willingness to collaborate, provide any additional information required, and work towards an amicable resolution for all parties involved. Thank you for considering my request for a short sale on my property in Suffolk, New York. I sincerely hope that we can reach an agreement that minimizes the financial loss for both the lender and me. Please feel free to contact me at the provided contact information if you require any additional details or if you would like to discuss this matter further. Sincerely, [Your Name] [Your Contact Information]
Suffolk New York Sample Letter for Short Sale Request to Lender
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