| Hardship
Here is my hardship letter that I would like to send to BofA Executives, what do you think.
RE: Hardship Letter
To Whom It May Concern:
I am writing this letter to explain my unfortunate set of circumstances that have caused us to become delinquent on our mortgage. We have done everything in our power to make ends meet but unfortunately we have fallen short and would like you to consider working with us to modify our loan. Our number one goal is to keep our home and we would really appreciate the opportunity to do that.
The main reason for being late is the reduction in my income. I work in the manufacturing industry and that is one of the areas affected by the current economic crisis. My overtime income has been reduced significantly.
When we refinanced our loan with BofA we did not realize that our property tax & homeowner’s insurance was excluded from our monthly payment, sorry for our negligence in this matter. We had our adult kids move in with us to help us for awhile to keep making our payments on time. This income is no longer available to us.
We are at the point in which we cannot afford to pay what is owed to Bank of America. It is our full intention to continue paying, but at this time we have exhausted all of our income and resources and are turning to you for help.
My second mortgage is with National City, and I am trying to work out a plan with them as well, but I just received a letter stating my loan is being transferred to Green Tree Servicing as of 7/01/09, so I will continue to work on this.
We are currently working on cutting our bills, phone, cable, etc. To lower our
income to debt ratio. We have not been late or have missed any payments to date and want to keep it that way. We desperately want to keep our house. We believe that a loan modification will do just that. We want to preserve our credit and good standing with you and just need a second chance to do that.
Sincerely and Respectfully, |