Easy and Simple Hardship Letters
A hardship letter is a document which explained your specific situation, this letter generally shows that you are unable to pay off your debt. In order to ask special considerations, then someone who is in a hard condition with their financial situations using this letter which also is known as the financial hardship letter. It usually used by people who are unable to pay off their mortgage or credit card payments and this is a great way to get the leniency from lenders. hardship letter sample is very important to avoid the foreclosure-related to your assets.
So, how to make a hardship letter?
There are many people want to know how to write this letter and what to include inside. What’s included in this letter depending on your financial situation and the ability to solve the financial issues in the future. By following simple rules, then you can write if for the best result. Of course, you can find a hardship letter template for ease.
Keep your letter brief
Usually, the lender will spend less than five minutes to read your letter so that you can limit it into the single plage only. If you use more than one page, then there is a big chance that your letter will not read thoroughly. To get better ideas on how to include in your letter, you can check a hardship letter sample.
You have to explain your situation
In your hardship letter, you have to explain why you stop to make the mortgage payments. This is very important and you have to ensure the lender that you are a not an irresponsible person when it deals with the making mortgage payment. You have to explain related to your current financial situation/
Keep your specific request
To tell your lender about what you want, then you have to mention whether this letter is in the short sale or just in a loan modification. Ensure that you write your purposes in a way that compels your lender to find out more about you. Of course, you can use paragraphs from hardship letter template.
Restate about your request clearly
You can conclude your letter by stated your request or you summarize the purposes. Explaining to the lender that you will make regular payments after the loan was reestablished. You need to consider several things above when writing your hardship letter. Ensure that you make it based on a real condition.