A short sale is when the home owner is not able to keep up with the monthly mortgage payment and would like to sell the house for less than what is owed. They are wanting to walk away from the house without owing anything or getting anything from it. The first step in a short sale is to provide a hardship letter to your lender.
7 Tips on Writing an Effective Short Sale Hardship Letter
1. Display your intent on closing the short sale as quickly as possible
2. Include all the necessary financial numbers – monthly payments, income, financial hardship, loan number
3. Include all necessary reference numbers – name, address, phone number, email
4. Mail don’t email your hardship letter – use certified mail
5. Ensure the letter is written professionally and is easy to understand
6. Keep detailed records of all communication
7. Request the lender to forsake the remaining mortgage amount
Short-Sale-Hardship-Letter
Short Sale Hardship Letter Sample
date
Name of loss mitigator
Mortgage company name
Mortgage company address
Your Name
Home address
Home Phone Number
Loan Number: 123456789
Subject – Short Sale
Dear Name of loss mitigator,
I am writing this letter to make you aware of my current financial situation and apologize for missing some mortgage payments. I have analyzed our current situation and believe a short sale will be in the mortgage companies best interest.
I have recently suffered a financial hardship where I was injured and have been unable to work for the past 3 months. This injury has resulted in me not being able to continue working in the field I have been trained in and therefore must relocate to start a new career.
Since I will be making less money in my new position and it is not located near my current residence I am forced to move and would not be able to maintain the current monthly payments.
It is for this reason that I propose we complete a short sale, I have attached all my financial records.
Looking forward to your prompt reply
Sincerely,
Name of the Home Owner
Phone No. of the Home Owner
Email Address of the Home Owner
If you follow this template I believe your chances of achieving success with this hardship letter are good.
Start Short Sale Application Now
To start your application I recommend getting the free loan modification kit which has a special chapter just on short sales. It will provide you with all the forms and tools you need for success.
Download Free Loan Modification Kit
