Example of a Hardship Letter
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Here is another hardship letter example. As we indicated in the first example, the letter must explain why you have gotten behind and why you can now afford your payments again. You must be very specific as to the dates of the hardship.
This letter is geared toward someone that has had some financial difficulties. It is imperative that you explain how these difficulties have been resolved.
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.
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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.