How to Write a Hardship Letter
- 1). Write your full name, home address and mortgage account number in the header section of the letter.
- 2). Include the name of the lender, the name of the department handling your request and the name of the representative in the salutation of the letter.
- 3). Explain that you are applying for a loan modification in the first paragraph. State that you wish to obtain a loan modification as a method of preventing foreclosure.
- 4). Write a detailed explanation of your hardship in the second paragraph. Explain how this hardship caused you to fall behind on your mortgage. Use exact dates and specifics wherever possible. For example, a job loss or sudden illness can explain a financial hardship.
- 5). Determine how you want the bank to modify your loan. Explain this method in the third paragraph. For example, you can suggest the bank reduce the balance on your mortgage or lower the interest rate. Explain that these changes will allow you to make payments and keep the house.
- 6). Explain any steps you took to correct the problem yourself in the third paragraph. This can include anything from applying for a mortgage refinance loan or making cuts in your personal budget. Use this paragraph to prove your determination to keep your home.
- 7). Provide your contact information, such as a phone number and email address, in the closing. Tell the representative you look forward to speaking to her.
- 8). Print and sign the letter. If your spouse is on your mortgage loan, have him sign the letter as well.
- 9). Mail the letter certified mail to the loss mitigation department or directly to your representative.
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