I worked in the corporate world for many years and eventually left to do something that felt more meaningful to me. I got a Masters degree is Counseling Psychology and began working with people going through divorce. As we all know, divorce brings a lot of financial challenges, including the need to go from one home to two. With that shift and subsequent job loss with the economy tanking, some of my divorce clients came back to me for help with hardship letters when they needed help. (I’d written their parenting plans, already, so they knew my work.)
So, I really began researching this a couple of years ago, simply because some of my clients asked me to. I talked to folks I knew in the mortgage industry, did a bunch of online research, etc. I wrote letters for these folks, and they got approved for various forms of loan modifications. They referred a couple more folks, and then a mortgage broker I knew began sending folks, and…. That was how it started.
Now, very recently with the Obama administration announcements just a couple of months ago, really, things have heated up. The great part about these programs, from my perspective, is that there is a lot more standardization in the form of servicing guidelines from Fannie Mae, that lenders must follow if they opt-in to participate. This standardization makes it easy for someone like me to study these programs, inside and out, and then write a letter that is very strategically targeted to helping people get approved for these programs by their lender.
After writing hundreds of these letters, I know how to lay it out very clearly for your lender so that their job is easeir — and then you get approved faster.
Here are some other hardship letter and loan modification resources that you might find helpful.
Hope Now Alliance - Wikipedia the free encyclopedia
Sample Hardship Letter Requesting a Short Sale
Loan Modification (@LoanModReviews) on Twitter
AOL.com Video - How to Not Be Sold On Loan Modification ...
How to Write a Short Sale Hardship Letter