Hardship Letter Template – A Solid Hardship Letter Template For You to Expand Upon
When trying to prevent foreclosure your lender will usually ask you to submit a hardship letter. Because it is so important, you can’t afford to write it blindly. The hardship letter template below should provide you with a solid guideline to get you off to a good start.
Before you begin writing, however, it is important to first know exactly what a hardship letter is. In general, it’s a letter written to your lender describing in detail the situation you’re in that has caused you to default on your current mortgage. Usually, this letter is the only document that will convince your lender to agree to a short sale or a modified loan payment. I cannot stress enough how important it is. The following hardship letter template should help.
1. In the first paragraph of your hardship letter, state exactly what you are requesting. This may be a modified loan payment or a short sale.
2. Early in your letter, summarize the specific situation that has prompted you to write the letter. Provide more details in the later paragraphs.
3. Make sure that you personalize your letter as much as possible. It will be read by your lender’s loss mitigator (a real human). Include details about you and your family that will get him or her to identify with your situation as a fellow human.
4. Keep your letter short and to the point. One page is perfect. A hardship letter that is too long will tend to lose the reader.
5. Be respectful and thank the lender in advance for considering your situation. To reach the point where you have to write a hardship letter means that you are in deep financial trouble and this is basically your last resort. As angry as you may be DO NOT blame anyone, especially the lender.
Please keep in mind, this information is just the tip of the iceberg. For more in depth help please visit this excellent hardship letter template help page. While this information is free, you may want even more help. Remember, you only get one shot at this. For a proven, professionally written guide please visit ShortSaleHardship.com. It’s a small price to pay for peace of mind.