Hardship letter template for a loan modification request
When you are writing to your home mortgage lender with a view to securing a loan modification package being offered as part of Obama’s stimulus plan for homeowners under the ‘make home affordable’ initiative. You will need to explain how you have fallen into financial hardship.
It may be possible that the bank has a hardship form of some sort that you can fill in, which would be useful as then all you would need to do is answer their questions honestly and explain how you came to be in a situation of not being able to afford your mortgage payments.
In the absence of a form however it is a really good idea to use hardship letters that follow a template to include all the information that the bank or lending agent would expect you to provide, a sort of hardship letter sample.
Below is a request letter template that shows you how to construct a letter for this purpose.
