Sample Hardship Letters
You have just found a template on how to write a hardship letter. You will find here below a basic template which can be customized to fit your requirements. You can successfully make a loan modification application and be able to also discontinue the foreclosure process.
When you know that you are not at per on your mortgage payments and afraid that there could be a looming foreclosure, you should visit or call your bank who have offered you the mortgage. You can stop the foreclosure of your home through the hardship letter and this is the one that the bank will require you to write. The same letter is able to enable a short sale to your home.Hardship letter are personal coercion to your financial institution letting them know of your inability to service the loan and the reason behind this. It might sound easy, isn’t it? However there is a lot more to just this. A hardship letter is also important when requesting the bank for a loan modification. It is your chance to plead with the bank to discontinue the process of foreclosure on your home and instead approve your modification loan.
This is the simple hardship letter.
Write your names exactly as they appear on the papers.
Address: indicate your current address where your mortgage is at.
Write the name of the bank.
Your loan number: Enter your mortgage number as it appears on the papers.
Write the subject matter here being the firm or person who is your mitigator.
We are to explain the reasons behind our ability to pay our monthly payments. Despite any efforts that are with us to pay the mortgage we are still far behind. We are therefore requesting you to help us through the approval of our loan modification for our mortgage. We will be happy if you can do all you do to help us.
The main reason why we have been late in paying the mortgage payments is, (enter your reason here, be clear and precise ).
We hope you will approve the modification loan for our benefit. We know we will be able to continue paying our mortgage but we request you to work with us so that we can reduce the monthly payments and we are allowed to stay in our home until then.
We remain waiting for your help and also how to move on with the matter.
The date, your signature ad your full names is the ways to end the letter.