How do I write a hardship letter?

J

JUSTME

New member
My husband was hurt at work, about 2 yrs ago, and I have been suffering from Hpylori, and have been completely been cut off of what medical we did have, so I am going untreated. We have since settled, (not for much) we did take what we got, paid on our house, got insurance on car, tried to pay ahead on electric, and gas. Anyways, we are now delinquent on our mortgage, and are close to loosing our home. I have been told that if I write a Hardship letter, maybe they won't foreclose, and we can buy ourselves a little time to continue seeking employment, and get caught up. We are a family of 5, and have no where to go/live if they choose to foreclose. I guess my question is, can anyone give me any pointers on what to put in this Hardship letter to the court. I know the obvious, of explaining why we are delinquent. We live in a Habitat for Humanity Home, and have a 20yr loan, and we are now in our 8th year. I think we are roughly about 2,300 behind. Thank You for all your help, it is greatly appreciated.
 
Writing hardship letters does not have to be difficult, but you need to know what your lender is looking for. Many homeowners simply do not understand the basics of writing an effective hardship letter and this is costing them their homes.

Because of the struggle getting loan modification: here are some points to make in your hardship letter

1. Use the Subject Line to Get your Point Across: The subject line instantly lets the loss mitigator know why you are writing this letter.
2. Keep it Brief: This is not the time to tell your life story. Keep to the point. Let the loss mitigator know your problem and how you think that the lender can help you fix it.
3. Be Personal: The person reading the letter has to get to know you and your family so get this across. This attention to the personalization of your problem will set you apart from the other cases. In fact the loss mitigator may actually pay more attention to you because of this connection.
4. Clarity: Your hardship letter for mortgage relief should be written in brief, concise paragraphs with a summary.
5. Information: Your financial hardship package should be accompanied by other important information: bank statements, cash flow documents, income tax statements, and letters of reference.
6. Gratitude: State how appreciative you are that you have been given the chance to convey your situation to someone who is willing to listen. Because this person is willing to help the hardship letter for your mortgage should be humble in tone.
 
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