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.
Upon the realization that you are behind in remitting the monthly mortgage payments and fear the upcoming foreclosure you are expected to visit or call the financial institution where you took your mortgage through. It is likely that you will be asked to write a hardship letter so that the foreclosure can be stopped. A short sale for your house is discontinued with this hardship letter. A hardship letter is a personal plea to your bank or financial institution informing them of your inability to pay your monthly agreed payments and explain what has caused this inability. It may not be as easy as it sounds. There is a lot more that goes in a hardship letter. When applying for a loan modification you need this letter as it is an important factor. It is your chance to plead with the bank to discontinue the process of foreclosure on your home and instead approve your modification loan.
To Below is the format for sample hardship letter.
Name: Should be your full name as it appears on your papers for the mortgage.
Address: indicate your current address where your mortgage is at.
Financial institution’s name: Enter it here.
Write your loan number just as it is on your mortgage paper.
To Whom It May Concern: Enter the name of the person or firm that is mitigating for you.
The aim of this letter is to inform you of the sequence of events that have caused my inability to honor our obligation on the mortgage payments. Regardless of our efforts to pay the mortgage we realize we are still very far behind. We hope you will help us by approving our loan modification. We will be grateful if you can use all that is in your capacity to assist us.
The reason behind our inability to pay the mortgage payments in a timely manner is, (state your reason here precisely and clearly.
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.