Write Hardship Letter To Mortgages Company
Times are tough for many people right now and a loan modification can help, so here's how to write a hardship letter to a mortgage company. Learning how to write a hardship letter to your mortgage company is the first step in getting the loan modification you may need and here are the steps to get you on your way to relieving some of your financial stress.
Things you'll need:
- Bank statements
- Past due notices
- Employment information
- Examples of financial trouble
- State your case. Include in your letter why you are behind on your payments. These examples should be legitimate reasons such as a loss of income, health issues, a death that contributed to the lack of income, unemployment or any other reason that is due to no fault of your own. You can't simply state that you are having trouble making ends meet. You must let the mortgage company know the exact reasons when you write hardship letter.
- Include evidence. By including your bank statements, past due notices on items such as your vehicles and employment information showing a cut in pay or unemployment, you are showing the mortgage company that you are serious and can show proof of your hardship. This also helps you get started in case they approve your loan modification.
- Show your willingness to settle. This is where you can ask for a reduced rate, a refinancing, a short sale and more. This shows the mortgage company that you have seriously thought about what can be done to help settle your debt so that they get paid and you can pay them. If it is a temporary situation let them know that as well so they can have more faith that the loan will be paid.
- Make it sincere. Have your letter sound emotional and heartfelt. This gives the mortgage company a reason to show empathy or sympathy. If they can relate to your hardship or feel bad for you then you have a better chance of getting approved.
Learning how to write hardship letter to mortgages company isn't difficult and can be one of the most helpful things you have ever done. With help from your mortgage company you can get back on your feet and not lose your home.