Type of Letter: Loan Modification
1st/2nd/Heloc: 1st mortgage
Type of Hardship: Loss of Income
Property Category: Primary Residence
Lender: American Home Mortgaging
Loss Mitigation Department
American Home Mortgaging Service
4600 Regent Blvd. Ste. 200
Irving, TX 75063
To Whom It May Concern:
Re: Request for Loan Modification and Principle Reduction at _________________________
Loan Number: ____________
I am writing to request a modification to my mortgage. Financial hardship is pushing me to the brink and I fear losing the house we’ve lived in for the past __ years. It’s my fervent hope you’ll help me save our home with a modified payment plan.
Hardship:
I am a single parent working as hard as I can to provide a home for my family. My company has been forced to cut back regular and overtime hours because of the bad economy and my work hours have recently been decreased, making it challenging to make payments on my home. My current debt-to-income ratio is __%, which is clearly unsustainable.
Status of payments/ Ability to pay going forward:
I am currently up-to-date on my payments, but will be unable to continue paying at the current monthly amount going forward.
I’ve cut all unnecessary expenditures and there is nothing left to cut. I am doing everything I can to stay afloat but will be unable to make ends meet without help.
Request:
Because the drop in my income has made it impossible for me to keep up with future mortgage payments, I’m asking that you modify my mortgage so the monthly amount due is around $___ a month. To come to this payment amount, I’ve scrutinized my budget to find the most I can afford at this time. After this desperately-needed reduction to my monthly payments, I will be able to reliably afford my mortgage. I won’t fail to keep up with my obligations. I am a hard-working, responsible home-owner who.’s never been late with a payment in the __ years I’ve had this mortgage, and just want to ensure my children have a good home to grow up in.
I very much appreciate your attention to my request. Don’t hesitate to call if you need further information.
Thank you very much for your time.
Sincerely,
Enclosures:
1. IRS 4506-T
2. 2 months of recent paystubs
3. Most recent tax return
4. Monthly housing & loan obligations
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