HARDSHIP LETTER EXAMPLE 3
October 14, 2008
GMAC Mortgage
Loan No. 0359141045
2440 Sturrock Drive
Henderson, Nevada 89012
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. My wife has recently had a new baby and had experienced a difficult pregnancy and therefore was unable to work. We have also determined that it is not practical for her to return to work as we would not gain anything due to the cost of day care for two children. In addition my business has slowed down this year due to the strained economy. With this reduction in income we have been finding it increasingly difficult to meet all our obligations. I am looking into ways to expand my business and increase my income but fear it will be too late by that time. We looked into selling our home to get into something more affordable but then realized we are extremely upside down in our loan to value. We would like to keep our home if at all possible. We realize we are several months behind and are now afraid that we will lose our home to foreclosure unless we seek help. We are humbly asking GMAC to provide us that help. If we are able to get some help to catch up and possibly do a loan modification to reduce our payments, we would be able to stay current moving forward and stay in our home. Our family would be truly grateful for an opportunity that will help us get caught up and back on track with our mortgage.
Thank you for your consideration,
