Is the hardship temporary or permanent? A financial hardship letter should explain to your lender why you are in financial distress and your capacity to resolve it.
There is a wealth of information available to assist homeowners in danger of foreclosure. Following are the questions your hardship letter needs to answer: What event or series of events caused the financial hardship that has made your monthly mortgage payments unaffordable?
The purpose of the letter is to describe why the borrower may not be able to make their mortgage, car loan, or other debt payments.
A handwritten hardship letter can seem more personal, as it can seem less likely to have come from a third party or a template even if it did. Table of Contents.
Include your Contact number and email address Additional Thoughts on Hardship Letters Writing a good hardship letter is possibly the single most important factor in whether a loan modification application gets approved or not.
Too much debt accumulated over time. Looking for help with a troubled mortgage or foreclosure? But at this time we have exhausted all of our income and resources so we are turning to you for help.
Download a Divorce Hardship Letter Template Hardship Request Due to Serious Illness A serious illness - whether your own or that of a family member - can definitely cause financial hardship.