Sample hardship letter : A Hardship letter is required by most Mortgage Companies to consider you for a “loan modification”. This is your opportunity to appeal to them to give you another chance. This should not be used to complain to what they have done or not done to make your situation worse. This letter must be honest and represent the facts clearly. This letter must show to them that the situation that caused you to fall behind was temporary and you are now in a position to make your payments on time. You must also have a legitimate excuse for falling behind (further more, sell it)… financial problems in itself would not be an adequate excuse. Loss of a job, death in the family or an illness would be an acceptable reason to fall behind on your Mortgage temporarily (Examples of Hardships).

Keep the hardship letter format to a minimum outlining the facts in a specific and concise manner. Remember, you are not trying to get out of paying your mortgage. You want to renegotiate the terms of your current mortgage to a more affordable payment that will fit into your current financial situation.

This hardship letter is a vital step you must take in order to save your home and avoid foreclosure. You are not alone, there are many homeowners facing the same situation due the current global financial crisis.

Due to the global financial crisis, many homeowners are finding themselves unable to meet their financial obligations. Home foreclosures are at an all time high because of many different financial hardships. A hardship letter written to your mortgage company may be the only opportunity you have to save your home from foreclosure.

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