32+ Hardship Letter Example For Loan Modification Images. The key to successfully requesting a loan modification starts with clearly explaining the reason(s) that you fell behind on your mortgage payments. A loan modification hardship letter may be the single most important factor in whether a lender will modify a loan.
In 2008, a homeowner named dan bailey got a lot of publicity for writing a hardship letter to countrywide's chairman, angelo mozilo, trying to induce the lender to approve a loan modification. When applying for a home loan modification, a key component of the application is the hardship letter, the homeowners' description of the financial setbacks they've experienced that resulted in their inability to pay their monthly mortgage. In this kind of letter, you have to politely and genuinely express the reasons why you can no longer sustain the payment of the monthly mortgage payment.
Thorough and detailed explanation, with examples if need be, to present the case of the home owner.
Hardship letter o a hardship letter is a brief letter written by you, the homeowner, that briefly describes the reason for print form clear form loan modification checklist submission date s docket no: When applying for a home loan modification, a key component of the application is the hardship letter, the homeowners' description of the financial setbacks they've experienced that resulted in their inability to pay their monthly mortgage. We have tried our best to pay back our dues on time but failed. Sample loan modification letter / debt modification hardship letter: