Definition of a Hardship Letter

As I mentioned before the hardship letter is probably the most important instrument in getting a loan modification from the bank. One of the biggest reasons it works is that it is addressed to the loss mitigator and not to the collections department. Collectors are not hired to listen to your hardship story. Their job is to collect money.

The loss mitigator’s job is to resolve mortgage situations and that begins with getting all the facts. They want to know about you and how you got into your financial situation. They also want to know how you plan to help. Best of all they will stop collection agents from bothering you.

Your financial hardship letter is a powerful instrument but it has to be written with the right information. It also has to demonstrate that you truly want to resolve the problems. And this starts with the right attitude.

Remember, loss mitigators are not the enemy. Negative wording and blaming just slows down the process so your hardship letter should reflect a positive attitude.

In addition, by writing the hardship letter you will putting yourself through a process that may be life-changing. This is because you will focus on what is important in your life and what you will do to keep it. It may also steer you into selling the home and starting again.

Whatever path it takes you down a well-written, concise financial hardship letter will get results.

Sincerely,

James Kelley

http://www.hardshiplettersample.com/tips

James Kelley is a Foreclosure Prevention expert author. He lives in Los Angelos California and has had his work featured on ABC is an Expert Author at Ezine Articles on the topic of preventing foreclosure and loan modification. His latest book, “Easy Hardship Letters Kit” is available at http://www.hardshiplettersample.com/tips