HARDSHIP LETTER EXAMPLE 1
Lender name Date
Loan #
Address
RE: Hardship Letter
To Whom It May Concern:
I am writing to try and explain the reason we have been experiencing difficulties in regards to our mortgage payments. We did not realize when we purchased our home that we were on an adjustable rate mortgage. We are now coming up to the point where our mortgage is about to adjust and we are afraid that our rate will increase and we will not be able to afford to make a higher payment. We have already been having a hard time meeting all of our obligations as the slowing economy has affected my work. This is compounded by the increased cost of living. We are unable to sell or refinance our home due to the fact that we owe more then our house is worth. We would like to keep our home if at all possible. We are now afraid that we could fall behind and afraid that we will lose our home to foreclosure unless we seek help. We are now asking (lenders name) to provide us that help as we do not know of any alternatives. If we are able to get some help and possibly do a loan modification to reduce our payments, we would be able to stay current moving forward and stay in our home. We would also request that we possibly have our rate lowered and locked in so that we will not have to fear the same scenario in the future. We appreciate any help you may be able to offer.
Sincerely,
