Writing a Hardship Letter to Wells Fargo

If you want to write a hardship letter to Wells Fargo, then you have to start by explaining who you are. This means indicating your name and address, and including the fact that the mortgage is owned by Wells Fargo. Naturally, you should also indicate your account number. You then have to explain that you are in financial difficulty and that has caused you to miss payments, or that you expect to miss some payments in the near future on your mortgage, mentioning the relevant dates. Don’t forget to inform them that you wish to resolve the issue as soon as possible.

What to Include in Your Hardship Letter to Wells Fargo

Explain the reasons for your late payments. For instance, you may have had a medical emergency, perhaps a family member has died, or perhaps you have lost your job. You should also include any relevant dates in relation to this. You should explain that this situation has made it impossible for you to make your payments. You should also indicate what types of payments you can make, when you can start with those, and how soon will you be able to make those payments.

Do also explain that your property is not currently up for sale and that you are struggling with making insurance payments and paying your taxes, if that is applicable. You should also include any financial documentation that can prove what you are stating, such as a detailed income statement, your most recent pay stubs, and any information that you feel is important for them to know.

End your letter by explaining that you hope the resolution can be satisfying and swift for both yourself and Wells Fargo, and that you look forward to hearing from them. Last but not least, you also have to make sure that you meet all the requirements as stated by Wells Fargo.

Wells Fargo Requirements

Wells Fargo will only take a hardship letter if it provides a clear description of your situation and how this caused your financial difficulty. Examples include loss of job, illness, overextended use of credit, or a reduced income not by choice.

Additionally, Wells Fargo expects you to fully explain what you have done in an effort not to default on the loan you have with them. For instance, you have to demonstrate that you have already used up all of your savings, and that you have cut down on unnecessary expenses. Furthermore, they want to see what you hope to achieve, for instance, a reduced principal or a lower interest rate.

They also want to make sure that any further delays are avoided as much as possible. Hence, they recommend that you make sure that all your document copies are clearly legible, and that you only include any documents that have not been in any way altered. If correction fluid, for instance, is seen on the documents, they will not be accepted. Last but not least, you must make sure that you mention the number of pages in your document, counting even the blank ones, so that they can check that they aren’t missing anything.

Hardship Letter to Wells Fargo Example

{Account Number}
{Your Name}
{Contact Number}

Wells Fargo Financial Real Estate
ATTN: Home Preservation Department


To Whom It May Concern:

I am writing with regard to my home at {address}, which has a mortgage owned by Wells Fargo. I have been behind on my mortgage payments since {date}, and I am writing to begin the process of resolving this situation.

I fell behind on my payments because {detail the reasons for hardship, including medical problems, death, job loss, etc.}, which occurred {date}.

I am unable to pay the monthly payments as is, but I believe I can afford {amount in dollars} per month, beginning {date}.

My home {is/is not} up for sale, and the property taxes and homeowner’s insurance {is/is not} current.

I have attached my financial information, including a detailed account of my income, recent pay stubs, and {any other information they’ve asked for or you think is relevant}.

It is my hope that we can bring a swift and satisfying resolution to this problem as quickly as possible.

Please contact me at your earliest convenience.


{Sender Name}

Writing A Hardship Letter Loan Deferment

In writing a hardship letter loan deferment, you will need to fully demonstrate what is your current financial situation. It should be noted that in order to be able to apply for some sort of loan deferment, you will have to meet a number of specific criteria. Usually, such a deferment will apply to mortgage payments and they are designed to help people avoid foreclosure.

In your letter, you will have the chance to highlight your circumstances, and all that you have done to turn it around. It is your chance to show that you suffer from an “acceptable” hardship. Mainly, it is an opportunity to prove that, as soon as you can, you will continue with your payments and repay what you owe.

Acceptable Hardships

There are a number of acceptable hardships, including:

  1. Involuntary reduction in income through loss of job or change in hours
  2. Death of a family member
  3. Illness of a family member
  4. Separation or divorce
  5. Forced relocation for work
  6. Shock from the adjustable rate reset
  7. New and higher expenses

How to Write a Convincing Letter

Your letter needs to be short and to the point, while providing your lender with a clear understanding of what is going on. Remember that lenders constantly receive this type of letter, with people looking for ways to keep their home if they experience some difficulties, so yours has to stand out. Here are some key tips:

  • Keep it short and sweet.
  • Clearly describe your hardship and why you are in that situation. Tell the lender when your hardship started, which should be linked to when you began to have payment difficulties. Make sure that the connection between missed payments and your hardship is established.
  • Explain what you have done and/or doing to improve the situation.
  • Present a plan for you to get back on track.
  • Make it clear that you are responsible and motivated to get back on track, and showcase that you are a pillar of the community, for instance, by discussing your volunteer work or other community activities.

You are not alone in your hardship. In fact, although the recession is said to be over, many people are having some kind of difficulty. Banks are quite forgiving if you communicate with them and that you are honest about your situation.

Last but not least, be aware of the fact that writing a hardship letter loan deferment is just the first part of your overall loan modification. Your lender will get in touch with you to request proof of your new income and they will also want a full financial statement. If you do contact your lender with a request for loan deferment, make sure that you have studied the process properly and that you are armed with negotiating tips to help you be more likely to be successful. Make sure that you also look into the different approval guidelines of your lender, and whether the stimulus home saver plan implemented by President Obama is applicable to you. This way, you will know exactly what you are and aren’t entitled to.

Hardship Letter Loan Deferment Example

{Your Name}
{Your Address}
{Your Phone #}
{Your Loan #}


To Whom It May Concern:

My name is {Name} and my account is {number}. I am writing to request a one-time deferment of my loan for the next {amount of time} due to severe hardship.

For the last {amount of time}, I have paid {amount} of my loan every {interval}. I have always made an effort to pay my installments on time and in full. However, as of {date}, I was met with the unexpected hardship of {brief description of financial, professional, family, or medical hardship}. Since the incident, I have only been able to afford the most basic necessities.

I am making every effort to get back on my feet, and I already {lined up a new job, recovered from my injury, etc.}. If I can defer my loan until {date}, it will allow me to recover from this incident and return to my normal payment plan by {date}. I am open to installment additions and plan adjustments at that point, and will try to accommodate any necessary changes.

Attached are my financial statements and {medical bills, pay stubs, etc.}. Thank you for your consideration and understanding. I hope to hear from you at your earliest convenience.

Thank you,

{Sender Name}

Writing A Hardship Letter For Housing Exemption

This particular hardship letter is written by students who want to be exempted from the college or university housing requirement. This is because the college or university may require the students to make use of their housing accommodations unless they fulfill certain prerequisites. However, for some students, despite not being able to comply with all requirements for exemption, their only option would be to continue to stay in their homes while studying because they are unable to afford the associated expenses of staying in the university or college housing.

Guidelines in Writing a Hardship Letter for Housing Exemption

Your letter should be written in a formal manner. This means that it is addressed to the right individual and/or department, and that it includes your personal identification information. It should also be short (no more than one page if possible) and to the point, and completely free of grammar and spelling errors. Do ask a third party to proofread the letter for you if possible.

Starting the Letter

Your first paragraph should state that you are asking for an exemption from the housing requirement despite being unable to comply with every condition imposed by the college or university for a student to be exempted. State that you know the rules for exemption but you are requesting that your financial situation be also considered.

Explain Your Situation

Indicate those rules for housing exemption that you are able to comply with, such as your home being within a certain distance from the college or university. Make sure that you attach proof for these things.

Then list those prerequisites that you do not currently meet. Explain that you fully understand the reason for such rules, but it is impossible for you to raise sufficient funds to be able to live in a dorm house rather than with your parents. Again, you must provide evidence for this, demonstrating how much money you receive through a scholarship, a job, and FAFSA (financial aid) and comparing that with the expenses required for living in the college or university housing. Emphasize why you cannot make the payments. Indicate the difference of the costs of living in the housing compared to living in your home. Also, indicate if your parents are unable to provide you with any financial support for whatever reason.

Ending Your Letter

From the evidence you supply, it should be obvious that you will be experiencing significant hardship if you are not exempted from the housing rule. Place an emphasis on the fact that you simply cannot afford the expenses involved in staying in the college or university housing to the extent that you will need to withdraw from the college or university if you are not granted the exemption.

Nevertheless, avoid being emotional as much as possible, and only state the facts. If you can demonstrate the fact that should they not be able to help you, you will no longer be able to study in their school, they may be more inclined to help you.

Writing A Hardship Letter For Small Business

If you have a small business and you are facing financial difficulties that prevent you from being able to repay a debt, you may want to consider writing a hardship letter for small business. It is very important, when you do so, that you focus on the facts and that you explain your financial circumstances in a clear, rational manner. You are likely to feel emotional about your situation, but you must try not to present a sob story. Creditors understand that being in financial difficulty can make a person emotional. However, they usually receive hundreds of these letters a week and want to be able to focus immediately on the facts. Keep it short and to the point, and you will be far more likely to get a response.

Steps in Writing a Hardship Letter for Small Business

  1. Your letter should be formally presented. Address it to the right person, and make sure it is free from spelling and grammar errors. It should also include your customer number in the subject line, so the creditor can find your information straight away. The subject line should also make it clear why you are writing.
  2. The first paragraph should explain why you have written the letter, and that you aim to find a solution. For instance, if you have rented a commercial property and you are struggling to pay your lease, then you should indicate how much you should be paying each month, how many payments you have already missed, and how long you expect your difficulties to continue. Explain that you hope to find an arrangement where you can continue to rent the property, while getting your account up to date over time.
  3. You should then explain why you are in such a situation. This is where you need to try to avoid becoming emotional. You must supply facts, using figures, evidence, documents, and more. If you present things sensibly, the response is likely to be more sensible as well.
  4. You should also describe your plan on how to turn things around. However, make sure that you are honest about this and don’t make empty promises. For instance, you can state that you have cut costs through redundancies, and how much this will save. You must make it clear that you are doing all you can to stay afloat. Creditors are more likely to be sympathetic if they see that you are really trying.
  5. Explain how you plan to make up for the missed payments. Show good faith by proposing a workable payment scheme. Give a specific length of time after which you expect to be back on track with your payments. Again, be specific, showing figures, dates, and more. Make sure not to promise anything that you won’t be able to do.
  6. Close the letter by apologizing, and making it clear that you hope to come to some sort of resolution. Indicate that if they have a different suggestion, you will be happy to hear it and consider it. End the letter by thanking the creditor for his or her time and consideration.

Hardship Letter For Small Business Example

Writing A Hardship Letter Not Delinquent

Financial hardship can affect anybody. The problem is that while this hardship is often of a temporary nature, its consequences can last for many years. For instance, a missed payment will usually cause a negative marking to be placed on your credit file, and it can take as much as six years, sometimes even longer, for this to be removed. That can seem unduly harsh when hardship is a temporary situation over which you have practically no control. Should you find yourself in such a situation where you have not been delinquent in your previous payments but now find that you are unable to pay, it is possible to appeal to the goodwill of your creditors by writing to them.

Tips for Writing a Hardship Letter Not Delinquent

These types of letters are formal letters and should be written as such. They have to be dated, addressed to the correct person, and free from grammatical and spelling errors. You should also include your account number as well as other identifying information.

Contents of the Hardship Letter

Start your letter by indicating what you are requesting. This could be a payment delay, a consolidation, debt forgiveness, or anything else that could help ease your financial burden. It should also state the type of debt, such as credit card, a loan, or a mortgage.

State that, from the date of your writing, you have not been delinquent on payments. However, because of your financial hardship, you will become delinquent unless a special arrangement be agreed upon. Explain that you have other necessary expenses, attaching copies of your various bills, and indicate your current income. Do also provide evidence of the cause of your hardship, such as huge medical bills, death in the family, or a sudden illness. Explain that you have made all possible adjustments, such as using up your savings, taking on a part time job, and reducing your expenses, as well.

Emphasize that you wish to be proactive and that you want to come up with a mutually agreeable solution that will prevent your credit rating from being damaged. State that you are willing to accept a solution that the creditor offers as long as it is within the bounds of your current financial capability. If the request is for a mortgage, make sure that you explain whether you want to remain in your property, or whether you have already placed the property up for sale.

Propose a Payment Plan

Do also make a suggestion for repayment yourself. For instance, you can propose reduced payments for a set period of time. Only do so, however, if you know that you can afford those payments and if you know that your hardship will have been resolved after a certain period. Keep your letter short and to the point and always stick to the facts and avoid emotional statements.

Lastly, make sure that you take a photocopy of your letter and all the documents you have attached. Send the letter via registered post and keep the receipt. If there is no reply after seven days of receipt of your letter, make sure to follow it up.

Hardship Letter Not Delinquent Example

{Your Name}
{Your Address}
{Your Phone #}
{Your Loan #}


To Whom It May Concern:

To Whom It May Concern:

I’m sorry to ask for an exemption from your University housing requirement. However, although I do not meet every condition for an exemption, I would like my severe financial hardship to be taken into account.

Your current prerequisites for housing exemptions are as follows: {list the prerequisites}. At this time, I meet the following prerequisite(s): {e.g. My parent’s house is within 25 miles of the University, I have taken at least 2 credits of college courses before, I am over 21 years old}. Attached is the necessary documentation proving that I meet these requirements.

However, I currently do not meet the following prerequisite(s): {list the prerequisites}. While I understand that these rules are in place for a reason, I hope you will understand that I cannot hope to make up the price differential caused by living in the dorms rather than my parents’ house. I am currently receiving {amount} in scholarships from the {Name of Scholarships}. I have also been granted financial aid from FAFSA in the amount of {amount} per year. The out-of-pocket expense to me and my family is {amount} per year, just for school, fees and books. My parents make {amount} per year, I have {amount} saved up for college and I contribute an additional {amount} per year from my job at {job}.

I think you can see that we are already struggling to meet the expenses accrued through my schooling alone. I could currently live at home for no additional expense, with groceries costing me about {amount} per week. However, if I were to live in the University’s housing, I would be required to purchase a package that would cost me at least {amount} per month for room and board and {amount} per month for a food plan.

I simply cannot meet these financial requirements. I would have to withdraw from the University instead, which I really do not want to do. It has always been my dream to attend {University Name} and I hope you can help me arrange a situation that is amenable to both of us.


{Sender Name}