How Do You Write A Loan Modification Hardship Letter?
If you can’t continue to afford your monthly mortgage payments and refinancing isn’t a choice, you should seek to get your loan modified. The first thing you must do to obtain a loan modification is to write a hardship letter to your lender. This letter details why you are asking for the modification and why it’s necessary. It’s really too bad that some modifications are denied just because a person hasn’t learned how to write a loan modification hardship letter that communicates the right things. You are writing the hardship letter to your lender, so that they understand what circumstances are making you unable to pay. They use the letter (among other things) to decide whether you should be granted a loan modification. You need to communicate that modification is the only way to avoid foreclosure and above all, you have to tell the lender that your home is your number one priority. Keeping your home is more important than anything to you and you will do anything to hang on to it. It’s
