[elpjohnson]

I thought that I would post this hardship letter I wrote that might help some others in my situation. Oh and if anyone has any feedback let me know.

To whom it may concern,

We are writing this letter to explain the extreme hardship it will be for us when our loan adjusts from a 7.75% interest rate to a 10.75% interest rate in August 2008, thus, bringing up our payment up by approximately $1695.00 per month on top of our 3720.00 payment (not including impounds). A monthly increase of this amount will ruin us financially and we will surely fall into foreclosure. Therefore, we are requesting that our adjustable rate loan be modified to a fixed rate loan at the current rate of 7.75% for the duration of the loan.

We tried to refinance out of this loan but cannot due to the fact that we cannot get the value on the property that we need in order to refinance.

To date we have made all of our mortgage payments on time and will continue to make all payments in full and on time. We are trying to be proactive because we want to preserve our good credit rating as well as our most important asset, our home.

Please find attached all of the information you need i.e. 2 most recent paystubs, 2 current bank statements and W-2's.

We appreciate your time and consideration in this matter.

Sincerely,