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In order to inform your lender about what you want, state the purpose of the letter whether it is a short sale or a loan modification. For example, if you want a lower interest rate, you can write, “I need to revamp my mortgage and get a lower, fixed interest rate…”
Please consider allowing me into your Short Sale Program so that we can lower the price and sell the house quickly before it goes into foreclosure. This will allow me to settle my financial obligation to you and have a chance to get back on my feet, without having to file for bankruptcy.
A Hardship Letter for a Short Sale is a typed or handwritten statement prepared by the borrower and sent to the lender to explain the circumstances that led to the payment delay and convince the lender of the necessity to sell the property at a lower price.
Check out our library below to browse printable Hardship Letter templates and samples. A simple Hardship Letter can help the debtor to modify the terms of their financial obligation and make it easier for them to pay their debt.
22 Ιουν 2024 · A loan modification hardship letter is used by a borrower to request a temporary or permanent change in the terms of repayment due to unforeseen financial hardship. Requested modification can range from a reduced monthly payment amount, a lower interest rate, or forgiveness of late fees.
6 Οκτ 2021 · If you choose to write a hardship letter for a short sale, you’ll want to make yours stand out to lenders so that you have a better chance of avoiding foreclosure. This article discusses what to include—and what not to include—in a hardship letter requesting approval for a short sale.
A Loan Modification Hardship Letter is a formal statement sent by the borrower to the lender with the intention to explain the financial difficulties the borrower has encountered and to request the modification of the loan to make it more affordable or create a more flexible payment schedule.
