Your hardship letter

Your hardship letter helps the lender or servicer evaluate your situation and find the appropriate solution based on your intent, income, loan and circumstances. Your letter should:

• Include all borrowers' names, loan number, and property address up front and center so the servicer/lender can locate your loan easily.
• State your intent: do you want to keep your home or not?
• Explain clearly the reason you cannot meet your monthly mortgage obligation.
  For example:
  "In June of 2007, I lost my job. Over the months of July, August and September I struggled to make my monthly payment, but still succeeded. When the interest rate increased on my adjustable loan, in spite of budgeting and cutting down on any unnecessary expenses, I was no longer able to make the payment…"
• Also, state whether your hardship is temporary or permanent. For example, if you lost your job and have now regained employment, it is a temporary hardship. Can you resume paying the same amount you paid prior to the hardship?
• State clearly how, when and where you want to be reached.
• Be clear and concise — describe your situation, but don't make it too long.

Hardship letters present you and your circumstances to the lender or servicer. Make sure to provide a clear and understandable explanation.

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