Moe-
I have been reading this forum and it sounds like people are getting results. Well we were pre-approved by Bank of America for a loan modification and I am excited! I wrote my hardship letter and I just wanted to get your feedback on it if that was ok?...pasted below:
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.
There are several reasons that caused us to fall behind on our payments:
a) On July 6, 2007 my husband, was laid off from his job with IBM. He no longer receives Unemployment Compensation from the State of Florida as of January 2008.
b) Since July 2007, we went down to one income and were unable to keep up with the higher mortgage payments due to our escrow account from the beginning of 2007 being short on funds due to raised taxes and insurance coverage in Flagler County, FL.
c) In November 2007 we had to fly out of State for a family emergency which did not enable us to make that months payment.
d) Since we no longer have medical coverage, I had to pay for my visits to the doctor on several occasions due to prolonged and excessive menstruation. The Doctor Office would not see me, unless I had full payment at each visit.
e) Since there is only one income in our household, but my husband helps me with my business while still looking for a comparable job, I must travel a lot. Gas prices have become extremely high, if I do not travel to do presentations and meet with clients I cannot assure growth.
It feels like catch up for those two months we fell behind on is almost impossible, I assure you we have every desire of retaining our home and repaying what is owed to Bank of America. But at this time we have exhausted all of our income and resources so we are turning to you for help.
Our situation is getting better because like I stated above, my husband and I have combined forces and we are working my business together in order to ensure stability and growth in our income and we feel that a loan modification would benefit us both. We would appreciate if you can work with us to lower our delinquent amount owed and/or our mortgage payment so we can keep our home and also afford to make amends with Bank of America.
We truly are looking forward to you working with us and we are anxious to get this settled so we all can move on.
Sincerely and Respectfully,
looking forward to your feedback
