Have You Written Your Hardship Letter?
An integral part of your short sale package is the hardship letter. Here’s your chance to tell the bank in your own words why you deserve to be considered for a short sale approval. I say in your own words because there are actually people out there who want to charge you to write a hardship letter for you. Don’t even consider it.
In your own hand writing tell the bank what happened. When writing your missive be sure to be truthful and as detailed as possible. If your wife left you then say so. If you lost your job, then say so. However here is something you are going to want to be aware of.
Be sure that what you say matches up with your financial documentation and most of all you must outline that your distress that is causing your inability to pay your mortgage will continue for the foreseeable future.
Your hardship letter should definitively tell the bank that you are unable to make your payments and will not have the ability to resume making payment sin the future and the reason why.
Facing Foreclosure? You Have Options FOXBusiness, on Thu, 14 Jan 2010 10:24:51 -0800 A hardship letter, the format and requirements for which varies. According to the Treasury Department, at the end of November 2009, only about 4 percent of …
Bank of America to release homes Las Vegas Review – Journal, on Thu, 14 Jan 2010 02:04:55 -0800 Banks need to eliminate the hardship letter for short sales and consider anyone who falls behind on their payment, Hawks said. ReMax Pros Realtor Tim Kelly …
Happy New Year — But Not to You, Aurora Loan Services Huffington Post (blog), on Mon, 04 Jan 2010 08:49:54 -0800 My last two years’ tax returns and last two months’ financial statements and bank statements, along with my hardship letter, are in a folder on my desktop. …
Examples of a Hardship Letter – Loan Modification Forum – LoanSafe.org Mar 12, 2008 … One of the items your lender or servicer will ask for during the loan workout or loan modification process is a hardship letter. A hardship letter is.
How to Write a Hardship Letter This is an example of what to write in a Hardship letter to explain why you have become delinquent on your Mortgage.
