Sample Letter For Mortgage Hardship

With many people facing an uncertain financial future and still reeling from the effects of the recession it has become necessary for many people to communicate their hardships to their lenders.  Some lenders are willing to work with borrowers who can show they are experiencing a financial hardship. In many cases these lenders require a “hardship” letter.  Here we have a sample of a hardship letter for a mortgage loan.

Example Hardship Letter:

Name: (Your Name)

Address: (Your Address)

Lender Name: (Your Lender)

Loan #: (your Loan #)

To Whom It May Concern:

This letter is an explanation of the reasons for our delinquency on our mortgage payments. Over the past few months, we have been working hard to try to reduce our expenses and increase our income, but our efforts have fallen short. We really want to keep our house and would appreciate any help and support that you can give towards this effort.

The reason why our payments are late is (put a short reason here). Because of the snowball effect of being late month after month, we now find that we are hopelessly behind with no way to catch back up. Our goal is to make payments on-time, but because of these circumstances that is not possible.

(When the hardship occurred and if you feel it is temporary or permanent.)

Both I and my spouse are trying to work as much as we can to help make ends meet. It would help us if you would acknowledge our efforts and work with us to reduce our delinquency or offer other programs that will allow us to remain in the house and work to pay back what we owe in full.

Please consider what you can do for us so that we can have a plan of action moving forward which will allow us to focus on increasing our income.

With Regret,

Borrower’s Signature

Date

Co-Borrower’s Signature

Date