There are many suggestions on how to help “bail out Main Street” in our current financial slump. This sample hardship letter for American Lending Administration will help you. The first and most important step in doing this is your drafting a financial hardship letter for mortgage modification. You should first call your lending institution to see if they are willing to assist you in a short sale of your property. Most, if not all financial institutions, will not just offer you a short sale out of the blue. Although it’s difficult, you must talk to them.

After your initial conversation, your lender will advise you to draft a financial hardship letter for mortgage modification. There are many different kinds of hardship letters including creditor and foreclosure letters. A financial hardship letter for mortgage modification gives the borrower a chance to give the lender a glance at why they are in the financial situation that they are in and why you cannot comply with your current mortgage. Your ultimate goal is for the lender to allow you to pay less than you regularly pay for your monthly mortgage.

As you draft your letter, understand that there is a real, live person on the other end of your letter. Loss mitigators are hired to assist you in staying financially solvent. Keep in mind that loss mitigators receive thousands of these letters every month so yours should stand out.

Sample Hardship Letter – American Lending Administration

George and Cynthia Bradley
992 Main Street
Intown, MD 88888

Mr. Tom C. Holden
American Lending Administration
555 Beach Street
Aberdeen, TX 33333
October 2, 2009
RE: Your Loan Number: Hardship Financial Letter for Mortgage Loan Modification
Dear Mr. Holden,
This letter serves as an official request to get a short sale approval for my property that is located at 992 Intown, MD 88888. We would like the chance to give you an explanation of why we have had problems paying our loan and have recently defaulted on our terms. Although we have cut out all unnecessary expenses, we still find that we do not have a sufficient amount to make our loan current.
The main reason we have fallen behind on our loan is because six months ago, my wife and I both were laid off from our jobs. The same company had employed each of us for over ten years. In April, our employer told us they were closing their business and provided us with two weeks notice.
We have been getting unemployment benefits, but this amount does little more than cover our other expenses along with our mortgage payment. We are very upset because we are falling behind further and further and do not know how we can get it turned around. We want to bring our account current with you, but we simply have no direction on how to do this. For the reasons mentioned above, we would like to ask for your help in getting a short sale approval on our home.
We believe that a short sale is the option that would help us so that we could sell the home for about the amount that we owe to you. We currently have an individual interested in our property.
Please let us know what the process is to begin the application for a short sale. We would like to get this taken care of as soon as possible and appreciate you prompt attention to this matter.
Sincerely Yours,
George and Cynthia Bradley
Sign Your Names Here-
Loan Number-
Re-write your address here-
Phone Number with Area Code
Email Address – if available.
All documents pertaining to your request should be placed in one envelope and sent to your financial institution through the United States Postal Service – Certified Mail with a return receipt requested. This will make sure that you have proof of delivery. Someone will have to sign the form at time of delivery and then this receipt will be returned to you via regular mail.
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