14+ Hardship Letter Example Mortgage Background. The people who read your hardship letter come to it with questions they want answered, so you'd better have the answers straight in your own mind first before you put them what event or series of events caused the financial hardship that has made your monthly mortgage payments unaffordable? A financial hardship letter to mortgage companies or banks is a letter you send to your financial institution explaining why you are no longer able to make the payments on your house and indicate exactly what happened to cause your payments to fall behind.
This letter is a key document in the effort to avoid foreclosure and outlines the issues that are affecting your ability to pay your mortgage.
Follow these steps on how to write a hardship letter for mortgage modification and take a look at the free letter example provided to get what is a mortgage hardship program? Start date sep 19, 2007. This letter is used to convey that the person is going through difficult times and he will not be able to pay the debt. A hardship letter is written when an individual is in a financial crunch situation.