

Example Hardship Letter

When you apply for a loan modification, your lender will typically require you to submit a “hardship letter” with your loan modification request. A mortgage hardship letter is a written explanation of the circumstances which have led to your falling into default on your home mortgage. The hardship letter is also required when applying for government home loan modification programs, such as the Home Affordable Modification Program (“HAMP”) or other government loan modification programs.

A hardship letter is important because your lender will want to know why you have fallen behind on your mortgage payments. Your lender will also want to know the information relating to your hardship in order to evaluate you for a mortgage loan modification or other loss mitigation. Most people who fall behind on their mortgage payments suffer from some type of hardship such as being laid off from work, being demoted, losing a spouse and/or a spouse’s income. Some homeowners suffer a hardship by getting injured on the job, or sometimes it is the medical bills themselves which cause a severe economic hardship. Other hardship examples include An Adjustable Rate Mortgage which has reset, illness, failed business, job relocation, incarceration, divorce, marital separation, military duty, or severe property damage. All of these hardships are legitimate reasons for falling behind on your mortgage payment and going into default on your home loan. Your job is to explain the hardship, so that you lender can consider you for loss mitigation.

The loan modification attorneys at Howard Law, P.C. have provided you with a sample hardship letter for loan modifications here to help you in your loan modification efforts. Please feel free to use our sample hardship letter as this is the same document we use to obtain loan modifications for our clients. If you submit our sample loan modification letter to your lender and are still denied for a home loan modification, please contact our loan modification attorneys at 800-872-5925 to discuss your situation and see if we can help. We have been successful at obtaining loan modifications for many borrowers who were denied for a loan modification by the lender or who have been unsuccessful using other loan modification companies.

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