Sample Financial Hardship Letter Template


Sample of Financial Hardship Letter
RE: Loan number- [###########]
Property Address: [123 Main St. City, State ZIP]
Dear [LENDER],
This letter will serve as a hardship letter outlining our current financial situation. We hope that
we can determine a solution together that will resolve the delinquency and enable us to keep our
Two years ago I changed careers due to the lack of opportunity in my old field of work, retail
sales. I decided to go into the construction business. I used a lot of our savings while I tried to
get established in this new line of work. Unfortunately, the housing market has slowed down
dramatically, so my hours have been cut back in the beginning of 2008. Eventually, my company
had to lay me off because they did not have enough profit to cover my salary. I was unemployed
for 3 months.
I began working for my current employer 2 months ago as a Site Manager. The company is very
stable, and my hours have been very consistent. And, I am making every effort to increase my
income by working overtime whenever possible. My wife has also been looking for part time
work. However, it has been difficult for me to pay my mortgage payments because of my recent
unemployment and reduction of income. I have contacted a HUD-certified housing counseling
agency, Piedmont Housing Alliance, to ask for their assistance in evaluating my financial
problems. I have been working with PHA because I want to keep my house.
So, at this time, I am hoping that you will consider a loan modification for my loan. I am making
every effort to meet my financial obligations, and I hope that we can work together to find a way
for me to save my house. Please feel free to contact me at [###-####]. I am working with Sarah
Brazelton, a housing counselor from Piedmont Housing Alliance. She is helping me go through
this process. Please feel free to talk with her about these things. Thank you for your time and
attention to this matter.
With Respect,
John & Susan Smith


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