One of the first things a lender will ask for in a loan modification or a short sale will be a hardship letter. It sounds simple enough...that is if you write them all of the time and have one in your file.

Our office has dealt with many of these lately and we often suggest to our clients to review our sample letter to get them started.

Sometimes starting is the hardest part.

This is not an easy position to be in, but we do our best to help in every way we can.

DATE

LENDER NAME
ADDRESS
LOAN NUMBER Dear Sirs,

Our names are/My name is [NAME] and I've/we've been paying the mortgage on our home at [ADDRESS] for __ years now. I'm/We're writing to you to explain why I/we have unfortunately fallen behind on our monthly payments.

Explain your Hardship (Include dates and specific incidents that caused you to get behind, also explain how it has been resolved).

We/I have sat down with my/our family and taken a very hard look at our financial situation and we all have agreed to make the following sacrifices in order to make certain that this situation never happens again.

Explain what steps you have taken to correct your Financial Position (cut back on spending, canceled some things... cable, eliminated activities, met with Credit Counseling services).

My family and I are truly grateful for the opportunity that you've given us to own our home and have every intention of keeping it for a long while, as well as making timely mortgage payments to you for it. Our children will grow up here and we hope that our grandchildren will also.

Thank you again and we wish you all the best!

Have everyone in your family sign the letter.

 

As a Distressed housing experts we pride our selves in being  up to date, knowledgeable and equipped with the latest information to guide our clients through the process of Short Sales and other Loan issues.The real estate market is constantly evolving and we, the real estate professionals, will be there with you every step of the way.