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Old May 1st 11, 01:44 PM
hillkimberly hillkimberly is offline
Junior Member
First recorded activity by WordBanter: Feb 2011
Posts: 0

For those people facing the loss of their home the foreclosure hardship letter is a very important part of find a solution to their hardship. Two of the main options available are the loan modification and short sale programs. Loan modifications are offered to homeowners who want to work with the lender to prevent losing their home due to foreclosure.

Writing hardship letters does not have to be difficult, but you need to know what your lender is looking for. Many homeowners simply do not understand the basics of writing an effective hardship letter and this is costing them their homes.

Here are some main points for writing a hardship letter a

1. Subject Line Request - Right off the bat let the loss mitigator know what you are requesting.
2. Brevity – Don’t let your financial hardship letter go on for page after page. Keep it as short as possible.
3. Personal - Let the loss mitigator get to know you and your circumstances.
4. Clarity – Get your points across in the clearest possible way and then provide a summary.
5. Information – Make sure you leave nothing out of your financial hardship letter. Attach important information such as bank statements, cash flow documents, income tax statements, letters of reference, etc.
6. Be Appreciative – The person reading this financial hardship letter did not get you into this mess but he or she is the one that can help you out of it. So be thankful and humble in your tone.

The hardship letter is not the only tool in your chest for a financial reprieve but it is by far one of the most important. So make it your prime instrument when dealing with the bank and get it in soon.