A mortgage short sale hardship letter is a document that is written by a homeowner who is facing financial hardship and is unable to make their mortgage payments. The letter is typically sent to the lender or mortgage servicer as part of a request to sell the property for less than the amount owed on the mortgage, known as a short sale.
In the letter, the homeowner explains the circumstances that have led to their financial hardship and outlines their inability to continue making mortgage payments. The letter should include details about the homeowner's income, expenses, and any assets or debts. It should also provide an explanation of the efforts the homeowner has made to sell the property or find other solutions to the financial hardship.
There are several reasons why a homeowner might need to request a short sale, including job loss, medical bills, divorce, or other unexpected expenses. Regardless of the specific reason, a hardship letter should be written with honesty and empathy, as the lender or mortgage servicer will be more likely to consider the request if they understand the genuine financial difficulties the homeowner is facing.
Here are a few examples of mortgage short sale hardship letters:
Example 1:
Dear [Lender or Mortgage Servicer],
I am writing to request a short sale of my property at [address] due to financial hardship. I have been struggling to make my mortgage payments for the past several months due to [reason for hardship, such as job loss or medical bills]. Despite my best efforts to sell the property or find other solutions, I have been unable to do so and am unable to continue making mortgage payments.
I am currently [income and expenses, such as "working part-time and earning $X per month, with monthly expenses of $Y"], and I have [assets and debts, such as "savings of $Z and credit card debt of $A"]. I have attached supporting documentation to this letter, including my current income and expense statement and a copy of my credit report.
I understand that a short sale is not the ideal solution for either of us, but I am at a loss for how to resolve this situation. I hope that by providing this information, you will be able to understand my financial hardship and consider my request for a short sale. I am willing to work with you to find a mutually beneficial resolution.
Thank you for your time and consideration.
Sincerely, [Your name]
Example 2:
Dear [Lender or Mortgage Servicer],
I am writing to request a short sale of my property at [address] due to financial hardship. My husband and I have been struggling to make our mortgage payments for the past year due to [reason for hardship, such as divorce or unexpected expenses]. We have tried to sell the property, but due to the current market conditions and the amount we owe on the mortgage, we have been unable to find a buyer.
We have exhausted all other options and are unable to continue making mortgage payments. We understand the impact this may have on your company, and we are willing to do whatever we can to mitigate the damage. We have attached a financial statement outlining our current income and expenses, as well as a list of any assets or debts we have.
We hope that by providing this information, you will be able to understand our financial hardship and consider our request for a short sale. We are willing to work with you to find a mutually beneficial resolution.
Thank you for your time and consideration.
Sincerely, [Your name]
Example 3:
Dear [Lender or Mortgage Servicer],
I am writing to request a short sale of my property at [address] due to financial hardship. I have been
