A Hardship Letter to Stop Foreclosure Proceedings Is an Important Factor in the Process

Jun 17
08:11

2010

jorge bell

jorge bell

  • Share this article on Facebook
  • Share this article on Twitter
  • Share this article on Linkedin

This letter will be a written explanation of why you have fallen behind on mortgage payments and it is important to stopping foreclosure.

mediaimage
If you’re finding yourself at the brink of foreclosure,A Hardship Letter to Stop Foreclosure Proceedings Is an Important Factor in the Process Articles than consider asking your lender for a loan modification. In this process, you will want to write a hardship letter to stop foreclosure proceedings.  This letter will be an outline or biography of what events have happened the way they have, and it may be the information needed to change your lender’s mind on foreclosing on your property.

You will want to write the hardship letter to stop foreclosure proceedings in such a way that it shares why you can’t meet the financial obligations. You don’t want to write a book for the letter, as these people are very busy and probably back logged with information. So too much information won’t get their attention. It’s better to keep the letter short and to the point, with about two pages being enough to get everything across. Some hardships the lenders consider during the process can be from an unexpected illness, death, loss of job, failed business, job relocation, military duty, divorce, medical bills, reduced income, etc. Make the letter unique to your situation, as it’s important aspect to moving forward in the process of avoiding foreclosure.

Pros:
* A letter will share your hardships in why you can’t meet financial obligations.
* Make sure the letter is about two pages long.
* The letter needs to be unique to your situation.

Cons:
* You experienced the death of your spouse and its caused financial troubles.
* You wrote a 10 page letter.
* You were denied the request.

Do everything you can to keep your home and life’s material items by writing a hardship letter to stop foreclosure proceedings.