Need Mortgage Refinance

Hardship Letter and Key Questions to Evaluate

Many people are finding it difficult to explain why or how they came to be in a position of struggling to meet their mortgage payments, problem is if you are applying for a loan modification then this part of the requirement and you have to provide a reasonable and honest explanation for why you are struggling.

You will find a template for putting together a hardship letter in one of the previous posts on this site called Hardship letter template for a loan modification request.

For further information I have included a link at the top of the page to an article that explains what information you need to add to a hardship letter when explaining how you came to be in financial difficulty. The article is very well written and tells you exactly which questions you need to answer with respect to explaining your difficulties from a lenders perspective, which is of course the perspective you need to understand and satisfy.

This article is primarily concerned with the short sale process, but the questions asked will also satisfy the needs for a loan modification request, they are in effect the same reasons but for an alternative process.

So if you are struggling to explain and need a helping hand then please refer to this additional source of information.