Hardship Letters Are The Most Effective - Hand Written
HAND WRITTEN Hardship Letters Are The Most Effective
Seller’s Name
Seller’s New Address
Today’s Date
Lender’s Name
Lender’s Address
Dear Sir or Madam,
I am writing to ask for your help. Circumstances beyond my control recently caused my life
to change. (X years ago) when I bought my dream home, were
happy to be living in and everything was going well. A couple of
months ago......(give them a story of what happened....lost job, somebody got sick,
mom needed you in FL, business failed, kids having problems in school...needed
help...the more details the better, you need to tell your story).
The bottom line is I cannot continue to make the payments on my house at (property
address). I have tried many different things to sell my house and pay off the money I
borrowed from you. I talked with some real estate agents, but they said that since I owed
more than what the house is worth that they would not list it for me. I called some
investors that told me they couldn'Haddt buy the house because there was no equity in it and it
required work. OR The house has been listed for x months and all the offers received were
below the payoff of my loan. I was on my way to file bankruptcy when fortunately this
buyer said that you might consider a "Short Sale" or reduced payoff. Please, please, please
work with this buyer. (They/he/she) is the only person who has given me any hope and
any reason not to file bankruptcy.
I am a responsible person who has always paid my bills and I am afraid of what will happen
if this does not work.
Your consideration is greatly appreciated.
Sincerely,
Your Name
Mortgage modification is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e mortgagor and mortgagee). In general, any loan can be modified.
