Home > Life > Letter Template > Sample Hardship Letter > Sample Hardship Letter 3

Sample Hardship Letter 3


Sample Hardship Letter 3
Sample Hardship Letter 3
SampleHardshipLetter
Bank/CurrentMortgageHolderContactInformation
Re:ClientName
Account#
PRIVATEANDCONFIDENTIAL
HardshipLetter
Date
Dear [LoanModificationorMitigationContact]:
Ibegantogetalarmedwhenthevalueofmyhomestartedtoplummet.Ithasgone
downinvaluefrommyoriginalestimatedvalueof$ totherecently
appraisedvalueof$ .Duetoforeclosuresandshortsalesinmyarea,the
valueisexpectedtogodownevenmoreongoing.
Atthesametimeashomevaluesaregoingdown,thecostsofeverythingelsehave
gonethroughtheroof.Myhomeownersinsuranceincreaseseveryyearasdomy
propertytaxes.Livingexpensesandmedicalexpensesaremoreandmoreeach
month.AlthoughIplannedforretirement,Ifindmyselfnearlyoutofmoneyandwill
soonbeunabletoaffordmymonthlyexpensesnomatterhowmuchIdowithout.
IamapprovedforaFHAHECMReverseMortgagebutbasedonmyageandthe
appraisedvalueof$ ,Ineedapproximately$ cashtoclose.
Duetothemarketplace,myappraisedvaluewillonlyholdfor3monthsandIam
nearingtheexpirationofthattime.IfIdonotdothereversemortgagenowandmy
valuedropsevenlowerintime,Iwillnolongerhavetheoptionoftakingareverse
mortgage.
Currently,Ipay$ permonthonmymortgage.Iwouldliketoaskyouto
pleaseallowashortpayoffofmyloanwith[LienHolder].Ithankyouinadvancefor
workingwithmethroughthisdifficulttime.
Regards,
Sample Hardship Letter 3