Hey everyone...here is a rough draft of my letter. I need input we are 95 days post payment. We are working with HOPE and the numbers must have been right . Litton called us for a letter and paystub. Thanks in advance
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 that caused us to be late is the reduction in my income. I work in the travel industry and that is one of the areas affected the current economic crisis. My fiancé and I also had a child this year. Because of this, my fiancés income has been greatly reduces as well as she works in the real estate field and also watches our son full time. She has been trying to gain employment but jobs have been scarce. ffice
ffice" />>> > > We also experienced medical bills this year along with repairs in our home such as the hot water pipe bursting under our garage floor. >> >> Soon after being late and our income not being nearly enough, we had fallen further and further behind. Now, it’s to the point where we cannot afford to pay what is owed to Litton Loan Service. It is our full intention to pay what we owe. But at this time we have exhausted all of our income and resources so we are turning to you for help.
As you know, we had never been late on our payments until September 2008. This past summer my income was reduced but my paychecks are picking back up where they should be at this point. Since the purchase of our home, our resale value has declined approximately 20%. This has made it impossible to refinance for a lower rate.
I feel that a loan modification would benefit us both. We would appreciate if you can work with us to lower or delinquent amount owed and or payment so we can keep our home and also afford to make amends with your firm.
We truly hope that you will consider working with us and we are anxious to get this settled so we all can move on.
Sincerely and Respectfully,