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How To Write A Mortgage Modification Hardship Letter

How To Write A Mortgage Modification Hardship Letter

A well written mortgage modification hardship letter will brighten your chances of securing a home loan modification

. And in the absence of refinancing options a mortgage modification may be the only thing that can save you from imminent foreclosure. So here are a few tips and an outline of an appropriate home loan modification hardship letter.

The first thing that you should be mindful of is the length of the mortgage modification hardship letter. You want to make sure that you state everything clearly but concisely. Complaints, lengthy explanations and teary stories don't work well with lenders.

To start your letter, mention your name and current contact information. You want to make sure that your lender knows who is asking for the home loan modification.

For the introduction, tell the lending company why you need the mortgage modification. Your reasons should be states honestly and concisely without too much drama. For instance something like; I need home loan modification because:How To Write A Mortgage Modification Hardship Letter


"The company I was working with closed down their Dallas operations a year ago. I have been trying to secure another job for the last 13 months and am on unemployment benefits up until now. Unfortunately, I do not see any changes taking place in the job market any time soon."

"I have been out of work due to a partial disability sustained in a job related accident. I am currently under the care of a licensed physician who is treating the injuries that I have sustained. My physician has clarified that it will be another six months before I can resume my job again."

Other hardships that may call for a home loan modification can include; death in the family, Medical Bills, Divorce or Separation, Adjustable rate reset issues, failed business etc.

In the second paragraph tell your lender what you have done to get out of your current financial situation. Try to make a bullet point list for this one. For instance, you can tell them about how you have cut down on your monthly expenditure or how your spouse and you are working part time to make ends meet.

In the third paragraph you need to show the bank that you can make the payment and that you will continue to make the payment after the mortgage modification

Finally, give the lender an assurance preferably based on previous good repayment records that you will pay the new loan amount after securing the home loan modification

And end the letter by saying that you are looking forward to working with the lending company.

If you are considering mortgage modification, you should really look into 60 minute home loan modification. It is a great resource that contains a lot of important information about the process of applying for a mortgage modification. It was created by a loan modification expert who has modified numerous home loans. The kit included a professional hardship letter outline, and one on one support in case you have any questions. It is a must have for homeowners.

by: David Pit
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How To Write A Mortgage Modification Hardship Letter