HARDSHIP LETTER EXAMPLE 2
Lender name Date
Loan #
Address
RE: Hardship Letter
Dear (lenders name),
Since last year I have been experiencing financial difficulties due to my ARM Loan. I am finding it increasingly difficult to maintain the payments on both my first and second mortgage, with the increased cost of living and the payments being increased on my first mortgage.
After having my current financial situation carefully analyzed, I have concluded that it is no longer possible to continue to make these increased payments. I have exhausted all means to supplement my income to maintain my mortgage. I have no choice but to ask for your help to avoid foreclosure of my home.
Due to the dropping prices that have affected the whole country I currently owe more on my mortgage than my home is actually worth.
Please consider allowing me into your mortgage modification program so that I can lower my mortgage payments. I would also like to have a fixed mortgage as well. This will allow me to settle my financial obligation to you and have a chance to get back on my feet, without having to file for bankruptcy.
Please understand that financial hardships can occur at any time it is not a choice. I deeply appreciate your help in this matter.
Sincerely,
