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How to Write a Hardship Letter

Aug 27, 2008
Do you want to make sure that you get to keep your house? If so, you need to start by learning How to Write a Hardship Letter. When we enter financial difficulties, we often find that we might be watching everything in our life fall over, as though they were stacked dominoes, and one of the things that we most fear falling is our mortgage payments.

When you look into getting a load modification or an reassessment of your mortgage payment, you'll find that there are many courses of action that you can consider, but one of the first and most preferred choices in front of you is learning how to write a hardship letter.

A hardship letter is essentially a letter that you send to your loan institution that will let them know about your problems and open up negotiations for what you can do. When you learning how to write a hardship letter, keep the following in mind:

Communication
Offering to resolve the debt
Thanking them for their time and support
Current contact information and sending the letter off

Remember that when seeking to understand how to write a hardship letter that the thing that you most need to think about is communication. You need to let the lender know that you are suffering from some financial hardships at this time, but that you are not going to let it stop you from paying them the money that you owe them.

With that in mind, you need to offer alternatives as to how you are going to pay. This might sound a little bit complex, but the truth of the matter is that learning how to write a hardship letter is easy and straightforward.

What your lender really wants to hear about is what are you going to do to resolve the debt. Writing out your solutions makes sense and this will be the heart of your letter of hardship. When you are doing this, remember that you can offer options like finding out if they can reduce your monthly payment, telling them what you can afford to pay every month, asking about hardship programs or looking into loan refinancing. What this will do is that it will let them know that you are ready and willing to make the payments that you need to make.

Remember that you should end the hardship letter on a friendly note. The more well-disposed they are to you, the better off you will be. Remember that they are going to be interested in helping you get the solution that you need so they can be paid off in full.

When it comes to contact information, make sure your information is as current as possible. Take some time to make sure they can get in touch with you. When it comes to sending off the letter of hardship, remember you need to fax it or send it by certified mail.

When you are looking at how to write a hardship letter, remember that you are not alone. This is the first step toward getting your finances resolved and within your control, so take the time to do it properly!
About the Author
Peter Baptiste is known as the Foreclosure Doctor Online. Feel free to visit his blog where he provides a wealth of information on a regular basis.The Foreclosure Doctor Online
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