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majestix · 07-08-2009, 03:05 PM

I recently revised my Hardship letter so I can send it to BofA Executives. I am ready to send the letter just would like to know is there any statement I should put in with the letter or just send the letter. Here is my revised letter hope this looks better.

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, and this kept compounding our problem. Sorry for our negligence in this matter.
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 reducing our monthly bills. To lower our Income to debt ratio. So with a loan modification we will be able to keep our home. 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,

07-08-2009, 03:05 PM	#19 (permalink)
majestix Member Join Date: Jun 2009 Posts: 21 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: B of A Did'nt sound Promising! I recently revised my Hardship letter so I can send it to BofA Executives. I am ready to send the letter just would like to know is there any statement I should put in with the letter or just send the letter. Here is my revised letter hope this looks better. 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, and this kept compounding our problem. Sorry for our negligence in this matter. 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 reducing our monthly bills. To lower our Income to debt ratio. So with a loan modification we will be able to keep our home. 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,