A hardship letter may be required by a mortgage lender when you apply for a modification of a home loan. Being able to identify a specific event that precipitated an unexpected challenge in meeting your monthly mortgage payment can tip the scales toward approval of your application for modification. Take the time to compose a letter that while crisp, concise and to the point provides all of the information your lender requires to evaluate your request.
Step 1
Provide your name, home address, loan number, and contact information in descending order, flush with the left margin, starting two lines below the date.
Step 2
Write a statement explaining your circumstances. Be brief, but not cryptic. Provide enough information to clearly convey the problem, but avoid going into unnecessary detail. Include the date — specific or approximate — that you began to experience financial hardship.
Step 3
Assert your intent to resume normal payment on your home loan as soon as possible.
Step 4
Include a closing such as "Respectfully" or "Sincerely" and sign the letter.