Financial Hardship Letter Template

Available In A4 & Us Letter Sizes.

Moreover, you can also use this letter to prevent foreclosure, to help pay credit card debts, and medical bills. I am writing this letter to explain the circumstances that caused us to fall behind on our mortgage payments. You need to explain your financial situation, and why you can’t pay. We recently contacted (name of foreclosure counselor and agency) to help us prevent foreclosure.

Get Financial Hardship Letter For Loan Modification Or Mortgage

Reexamine your situation and determine whether it meets the criteria for hardship to improve your chances of receiving financial assistance. When in deep financial struggle, an approved financial hardship letter may be your only hope. A financial hardship letter is written by an individual to request temporary relief from an obligation due to extreme financial circumstances. Free instantly download financial hardship letter template, sample & example in microsoft word (doc), google docs, apple pages format.

Commonly Used After A Job Loss, Illness, Death, Or Other Unforeseen Event, This Letter Explains To A Lender Why The Individual Can No Longer Make Regular Payments On A Mortgage, Loan, Rent, Or Any Other.

It saves you from a lot of trouble and further difficulties, and may ease the financial obligations that you already have on your plate. The main reason that caused us to be late is (explain reason for hardship/reason for falling behind in a few short sentences). The main purpose of a financial hardship letter is to obtain leniency in payment deadlines or the consolidation of your outstanding debts. These templates provide a structured framework for expressing hardships, explaining the circumstances, and requesting assistance or accommodation.

If You Are Applying For A Loan Modification Or A Short Sale On Your Home, You Will Likely Need To Write A Hardship Letter.

Consumers can prepare a financial hardship letter that outlines the situation and why you are currently unable to meet your obligations, the action you have taken to resolve the issue, and your proposed solution. We’ve provided a template and tips to get you started. When you do not have the resources to pay back your lenders, a hardship letter can help you overcome financial challenges.