A business format should be used when composing your foreclosure hardship letter. Your name, address, city, zip and phone number should be placed at the top of the paper. The Loss Mitigator’s name, lending institution and address is placed under your contact information. The next line should include the current date, then your loan number placed underneath the date. The body of the letter should be between four to six paragraphs. Close the letter with by signing and printing your name.
Below is an example of the foreclosure hardship letter format:
Joe and Jane Doe
123 Anyplace Avenue
Anytown, State 12345
123 Anywhere Street
Anytown, State 12345
RE: Your Loan Number (include either Loan Modification or Short Sale)
Dear Mr. Jones,
We are contacting you today to explain the circumstances which have caused us to become delinquent on our mortgage payments. Although we have done everything possible to improve our financial situation, we are still short on the money owed to you. We would greatly appreciate the opportunity to obtain a loan modification (or short sale).
The main reason we have become delinquent in my mortgage payments is (explain the reason here). Since we do not have enough income to pay our regular monthly mortgage payment, we are falling further behind and are concerned we will not be able to pay what is owed. We truly want to pay what is owed, but at this time do not know how to accomplish this. Therefore, we are turning to you for assistance.
We are asking for consideration to temporarily reduce or suspend our mortgage payments for a few months (or allow us to sell our home via a short sale). Doing so, would help us get back on track. Our home means a great deal to us and we desire to work with you to keep it out of foreclosure. Please advise us of all options available to stop foreclosure (or initiate a short sale) at your earliest convenience. We are anxious to reach an agreement and appreciate your prompt response.
Print name of Borrower(s)
Signature of Borrower(s)
email address (if applicable)
Send the foreclosure hardship letter via certified mail with a return receipt requested. This will ensure you have proof you sent the letter. The return receipt must be signed by someone at the lending institution and the signature card will be returned to you in the mail.
About the Author:
Simon Volkov is a private Real Estate Note Investor who provides solutions to individuals facing foreclosure, short sales and other hardships. If you need to sell your house fast, present a foreclosure”>http://www.simonvolkov.com/tags/Foreclosure”>foreclosure hardship letter or looking for alternatives to help you avoid foreclosure visit http://www.simonvolkov.com/> www.SimonVolkov.com today.
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