The largest and most crucial part of mortgage loan modification and short sale programs is your foreclosure hardship letter. Homeowners can be assured that they have options available to them before their homes are foreclosed on. Homeowners must have a sincere desire and the will to prevent their families from such a financially destructive process.

“Short sales” are looked at when homeowners will not have the means to reconcile notes that are severely behind. Lenders offer short sales as an option that will allow the homeowner to sell their home for less than the principle amount that is owed on the loan so that something may be salvaged of the homeowner’s credit.

Most homeowners do not look forward to writing a foreclosure hardship letter simply because they believe it is the most difficult part of getting their real estate package together. The experience in and of itself can be quite emotional and draining because it is an honest admission of your financial hardship as a homeowner and can sometimes feel like your circumstances are trying to defeat you.

Some homeowners are also fearful that their letters will go directly to a collections department, which fortunately is not the reality. Lenders have loss mitigators, whose job it is to try to help the homeowner avoid loss of their homes. Your foreclosure hardship letter has to stand out because they read quite a few of them every day. Your letter should be concise to save time and expedite the loss mitigator submitting and answer.

It is better for the loss mitigator to receive a typed letter so that legibility is not an issue that will delay them from getting you an answer. The basic point is the loss mitigator gets the facts from your letter to expedite your answer.

Here are the best tips for formatting your hardship letter (use a business format):

1. Put your name, address, city, state, zip and phone number at the top of the page.
2. List the name of the loss mitigator, lending institution and its address.
3. List the date you are writing your letter.
4. List your loan number (get it off of your original mortgage agreement).
5. The body of your letter should not exceed four to six paragraphs.
6. Thank the loss mitigator for his or her time.
7. Sign your name.
8. Print your name below the signature.

Free hardship letter…click on the image below…

The best advantage is to have a sample foreclosure financial hardship letter. This way, you can find your voice and create your own reality.