When it comes time to speak to your lender during a home loan modification or to work out a loan, you are going to need a hardship letter. This is pretty self-explanatory. The hardship letter pretty much explains what event is causing you to fall behind on your payments. This could be because you lost your job, you had an illness or you had a death in the family, or anything else - as long as it's a valid reason.This letter is used to try and stop foreclosure. This hardship letter for loan modification help should not be a book - if you make it really long, they might not even read it, and where will that get you?!? Instead, the letter should be to the point - 1-2 pages at the most, and try to be professional when writing to the loan modification companies.
This is also used for when you need a home mortgages refinance as well. Really, you will benefit with a well written letter, without spewing out words. Just generally let them know why you are late on the payments and why you need help modifying the payments to a lower amount.
If you need help with any mortgage issue, remember that we are here for you. For more info, visit us at www.WeFixMortgages.com
1 comments:
A hardship letter is a financial letter which should clearly explain the reasons behind you defaulting on the loan. This is used to avoid foreclosure and to opt for loan modification program.
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