Sample Hardship Letter Template - Easy to Use Guide and Example

Practice Problems - Sample Hardship Letter Template - Easy to Use Guide and Example

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The first step in the loan modification process is writing a hardship letter, or financial hardship letter, and contacting your lender. This description includes examples of financial hardship and a sample hardship letter template you can use to successfully start the loan modification process.

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Here is a sample of hardships that lenders think during the loan modification process:

o Adjustable Rate Mortgage Reset- cost Shock
o Loss of Job
o Death of Spouse or Co-Borrower
o Incarceration
o Divorce
o Military Duty
o Reduced Income
o Damage to property
o Job Relocation
o Death
o Marital Separation
o Medical Bills
o Failed Business
o Reduced Income

If you have experienced any of the above hardships you should now take the time to educate yourself on the loan modification process and take the first step which is writing the hardship letter. Below is a sample hardship letter template designed to help you successfully start the loan modification process. Make sure you customize the letter to fit your specific need.

Remember that this sample hardship letter is only the first step in the loan modification process, use a good potential loan modification kit to unblemished the remaining documents and learn about the foreclosure process.

Sample Hardship Letter Template:

Name:

Address:

Lender Name:

Loan #:

To Whom It May Concern:

I am writing to notify you of my unfortunate situation that has caused me to fall behind on my mortgage and become delinquent. I have tried for weeks all things in my power to make the cost we rightfully owe, any way due to circumstances out of my operate I have not been able to make the payment. My goal is to come to a mutually beneficial resolution that allows me to stay in my home and make affordable payments.

The unfortunate financial hardship, that was out of my control, that has now caused us to be late on our payments is (put your specific guess in here be concise and specific with 2-3 sentences)
It is my full intention to pay (Lenders Name) what I owe but at this time I can not make the required payments.

To alleviate the financial hardship we have taken these step:
- List costs you have cut
- Any increased income
- Resolution of financial hardship

My situation is getting great as is obvious in our financial statements we can contribute and I am determined with a miniature modification I will be able to stay current for the remainder of the mortgage. I would greatly appreciate if we could work together to find a rapid mutually agreeable resolution to the current delinquent mortgage.

Sincerely and Respectfully,

(your signature)

Date

What's Next?

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