Home Foreclosure Hardship Letter | Help With Writing A Hardship Letter
What should I write in a hardship letter to get the mortgage company to give me another chance?
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A hardship letter is something most mortgage companies will require to consider you for a “Work Out”. This is your opportunity to appeal to them to give you another chance. This should not be used to complain about what they have done or not done to make your situation worse. This letter must be honest and represent the facts clearly. It must prove to them that the situation that caused you to fall behind was temporary, and you are now in a position to make your payments on time. You must also have a legitimate excuse for falling behind… financial problems alone would not be an adequate excuse. Loss of a job, death in the family or an illness would be an acceptable reason to fall behind on your mortgage temporarily. Here is one example of a letter that the mortgage company is looking for. Please allow us to get you the foreclosure advice you are seeking. We also recommend you take a look at this example of a medical hardship letter if the medical case best suits your current situation. We will do our best to stop foreclosure on your home.
Name: (Your Name)
Address: (Your Address)
Mortgage Co: (Mort. Co.) Loan No: (your Loan Number)
I/We, (Your Name), are requesting that you review my financial situation to see if I/We qualify for any workout option.
I/We are having problems making my monthly payments because of financial difficulties created by (circle what applies):
Too Much Debt
Death of my Spouse
Death of a family member
Damage to Property
Other (Please Specify)
This difficulty or situation happened on or about this date ??????.
I/We believe that my/our situation is (circle one) Temporary / Permanent
This is a brief account of the situation is as follows: (explain your situation… tell them you feel you can now afford your payments)
I/We, (your name), state the information provided above to be true and correct to the best of my/our knowledge.
This letter is published as a courtesy of American Foreclosure Specialists. Our passion is to help you save your home from foreclosure.
Remember... the hardship letter is just one piece of the workout puzzle. You need to meet other criteria for the mortgage company to approve you for a workout. If you don't know where to start, visit our foreclosure help page. There, you will find sound advice on what to do if you are in foreclosure.
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IMPORANT NOTICE – PLEASE READ There is no guarantee you will receive a loan modification. Even if you accept this offer and use our service, your lender may not agree to change your loan. Loan Modification approval is dependent on criteria including but not limited to hardship, income, debt ratios. American Foreclosure Specialists is not a Bank, nor a government agency or government affiliate. Our services are not approved by the government or your lender. American Foreclosure Specialists assists in the document preparation, working with and communication with your Mortgage Bank in the attempt to acquire an approved Loan Modification. If you stop paying your mortgage, you could lose your home and damage your credit rating. Loan Modification Plans are dependent upon mortgage company criteria and financial information gathered as part of the efforts of AFS. The information and notices contained on this website are intended as informational and should not be regarded, as financial or legal advice. AFS attempts to ensure that the material contained on the website is accurate and complete at the date first published, however you should recognize that information contained on this website may become out of date over time. Readers who have particular questions regarding real estate law, finance, or who believe they require legal counsel, should seek the advice of a financial advisor or an attorney. Submitting a contact request, gives AFS consent to contact you by telephone and/or email, even if you have previously listed yourself on any state or federal Do-Not-Call List.