Need a Good Hardship Letter for a Short Sale?
If you need to request a short sale, you’re not alone. Many homeowners just like you need to sell their homes and can’t because they are “upside down” on their mortgages – they owe more on their loans than their houses are worth in the current real estate market.
If you have no need to sell, you can ride out this long real estate slump. But if you’ve had a drop in income and can no longer afford your mortgage payment, or if you need to move for work or other reasons, you may need to request permission for a short sale from your lender.
Not only do you want your lender’s permission for a short sale (selling your property for less than the amount of your loan balance), you also want your lender to forgive you for the balance of your loan after the sale. Otherwise you may end up struggling with a mortgage loan burden for years to come.
This type of hardship letter is different from a loan modification hardship letter in that:
- you need to convince the lender that you absolutely need OUT of the situation.
- you’re not trying to convince them that if they lower your payment, you’ll be able to make the payments reliably. You’re actually trying to convince them that nothing is going to make this home affordable for you, and that you need to get out.
- you also need to very skillfully hint that they should allow you a short sale, otherwise, you will default and they’ll have to spend the money on a foreclosure.
We have written numerous successful letters requesting permission for a short sale.
Click the Order Now button to the right to order your custom, professionally-written short sale hardship letter.
Here are some other hardship letter and loan modification resources that you might find helpful.
How can I get a hardship letter? - Yahoo! Answers
Loan modification question? - Yahoo! Answers
remodification - Online Science Dictionary | Free Online Science ...
Loan-Modification Program Loses More Borrowers in July - WSJ.com
Hardship post encyclopedia topics | Reference.com
