Writing a Hardship Letter For a Home Loan Modification

One piece of documentation that all lenders are going to be asking for when applying for a home loan modification to avoid foreclosure is a hardship letter. A hardship letter is a handwritten letter stating the reason why you fell behind on your current mortgage. This isn't the opportunity for you to complain about the lender, this is the opportunity for you to state your case. I suggest that you be completely and brutally honest about your situation.

Lenders are looking for a way to keep clients in their homes; the process of foreclosure it is going to be a substantial cost. Lenders are actually being very opened minded about home loan modifications, they are seeing it as a gain for the client and also a gain for themselves. Modifying a home loan to avoid foreclosure is less of a cost to the lender.

quick loans without bank account, payday loan cash advance, cash advance loans no credit check,

Lenders are looking for a specific reason why you have fallen behind on your mortgage. The most common hardships the lenders are looking for are:

*Unemployment, *Reduced Income, *Divorce/Separation, *Medical Bills, *Death of Spouse, *Payment Increase, *Military Service, *Damage to Property, *Business Failure, *Job Relocation, *Illness, *Adjustable Rate Mortgage, *Incarceration, *Death of a Family Member.

Lenders would be more empathetic to you with any of these reasons; these are true and honest hardships that would cause the lender to look at your current situation and make a better determination on moving forward with your application. These are just some of the hardships that lenders are requesting to determine a home loan modification. If you are falling into one or many of these categories, I strongly suggest that you submit an application for avoid foreclosure, or even bankruptcy.

If you are feeling the pinch of a delinquent home loan and stressed about losing your home to foreclosure, we are here to assist you. We offer a money back guarantee if we can't get your delinquent home loan modified.

same day cash loan

Up To $1500 Quick Loan Online. No Hassle. Fast Instant Approval. Withdraw Your Cash. Get Cash Fast Today!

Rating of same day cash loan

Get Online Application at online payday loans.


Post a Comment

Copyright © 2013. mortgage loan
Support by USA Cash Payday Loans