Sample Mortgage Hardship Letter Template

SAMPLE   H ARDSHIP   L ETTER  

 

 

(Date)  

(Lender)  

(Attn:   L oss   M itigation)  

RE:   H ardship   L etter   -­   ( Property   A ddress)  

Account   N umber  

 

To   W hom   I t   M ay   C oncern:  

 

I   p urchased   m y   h ome   i n   2 004   a nd   w e   h ad   t he   i ncome   a t   t he   t ime   t o   s upport   t he   m ortgage.  

 

In   e arly   2 006,   m y   m other   w as   d iagnosed   w ith   A lzheimer’s   D isease   a nd   n eeded   t o   b e   p ut   i n   a  

nursing   h ome   w hich   w as   v ery   e xpensive.   S he   l ater   p assed   a way   i n   N ovember   2 006   a nd   m y  

husband   l ost   h is   j ob   a nd   h as   s ince   t aken   a   s ignificance   c ut   i n   p ay.   W e   l ove   o ur   h ome   a nd   d o  

not   w ant   t o   l ose   i t   b ut   w e   h ave   c ome   t o   t erms   w ith   t he   f act   t hat   w e   c annot   a fford   t o   k eep   i t.  

 

This   l eft   m e   w ith   t he   f inancial   b urden   o f   p aying   t he   m ortgage.   I   m ake   $ 35,000   a nnually   a nd   I  

have   e xhausted   a ll   o f   m y   s avings,   I RAs   a nd   m y   c hildren's   c ollege   f unds   i n   w hich   I   u sed   t o  

keep   t he   m ortgage   p ayments   c urrent   u ntil   M ay   2 007.  

 

In   M ay   2 007,   1   w as   n o   l onger   a ble   t o   m ake   p ayments   a nd   i nquired   a bout   p artial   p ayments,  

payment   p lans,   a nd   r efinance;   I   w as   d enied   o n   a ll   a ccounts.   I n   J uly   2 007,   I   p ut   t he   h ouse   u p  

for   s ale   w ith   ( Your   A gent’s   N ame   a nd   B rokerage   F irm)   w ho   s pecializes   i n   p re-­‐foreclosure  

properties   a nd   s hort   s ales.  

 

My   f inancial   s ituation   c annot   s ustain   a   h ome   m ortgage   o f   n early   $ 2800   p er   m onth.   I   w ant   t o  

sell   t he   h ome,   a void   f oreclosure   a nd   s alvage   m y   c redit.   I   k now   t hat   a   f oreclosure   o n   m y  

record   w ill   a ffect   m e   f or   y ears   t o   c ome,   I   w ould   a sk   t hat   y ou   p lease   a ssist   m e   i n   a voiding   t his.  

 

I   d eeply   a ppreciate   y our   h elp   a nd   u nderstanding   i n   t his   m atter.   I f   y ou   h ave   a ny   q uestions,   o r  

need   a nything   f urther   f rom   m e,   p lease   c ontact   m y   a gent   o r   m e   p ersonally.  

 

Sincerely,  

 

Jane   S eller  

 

When   w riting,   k eep   t he   f ollowing   i n   m ind:  

   

Keep   i t   t o   o ne   p age  

•

Describe   t he   h ardship  

•

Explain   t hat   y ou   c an   n o   l onger   o r   w ill   s oon   b e   u nable   t o   m ake   p ayments  

•

Ask   f or   a pproval   o f   a   s hort   s ale   a s   y our   o nly   a lternative   t o   f oreclosure  

•

All   p arties   m ust   s ign   o r   m ust   w rite   t heir   o wn   h ardship   l etters  

•