Loan Modification Forum - LoanSafe.org - View Single Post

lakesidejenn · 01-25-2009, 10:02 PM

I have just been laid off and my job was our last hope to stay current with CW. Our home is only in my husbands name and we have only missed the payment for Jan. 2009 so far. We want to get the loan mod pappers in ASAP. Your oppinion would help on the letter:

I am writing this letter to explain the unfortunate set of circumstances that have caused me to become delinquent on my mortgage. I have done everything in my power to make ends meet but unfortunately I have fallen short and would like you to consider working with me to modify my loan. My number one goal is to keep my home and I would really appreciate the opportunity to do that.

After a substantial decline in income from my business I first began to get behind. Now, it’s to the point where I cannot afford to pay what is owed to Countrywide. It is my full intention to pay what I owe. But at this time I have exhausted all of my income, savings and resources so I am turning to you for help.

The majority of my business was directly linked to the real estate housing market. In October 2007 business began to decline and has continued to the point there is almost no business. I currently have one contract left. It is with the State of ffice:smarttags" />lace>Californialace> and has been indefinitely placed on the stop work list. I have been able to find some work with a company I have previously worked for; unfortunately it is not full time employment.

In the last year the resale value of my home has declined approximately 29% and because of that currently I am over $100,000 upside down. This has made it impossible to refinance for a lower rate.

I feel that a loan modification would benefit us both. I would appreciate if you can work with me to lower my payment by lowering my interest rate or lengthening my loan so I can keep my home and also afford to make amends with your firm.ffice

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I truly hope that you will consider working with me and am anxious to get this settled so we all can move on.

01-25-2009, 10:02 PM	#1 (permalink)
lakesidejenn Junior Member Join Date: Jan 2009 Posts: 4 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	sending letter to CW I have just been laid off and my job was our last hope to stay current with CW. Our home is only in my husbands name and we have only missed the payment for Jan. 2009 so far. We want to get the loan mod pappers in ASAP. Your oppinion would help on the letter: I am writing this letter to explain the unfortunate set of circumstances that have caused me to become delinquent on my mortgage. I have done everything in my power to make ends meet but unfortunately I have fallen short and would like you to consider working with me to modify my loan. My number one goal is to keep my home and I would really appreciate the opportunity to do that. After a substantial decline in income from my business I first began to get behind. Now, it’s to the point where I cannot afford to pay what is owed to Countrywide. It is my full intention to pay what I owe. But at this time I have exhausted all of my income, savings and resources so I am turning to you for help. The majority of my business was directly linked to the real estate housing market. In October 2007 business began to decline and has continued to the point there is almost no business. I currently have one contract left. It is with the State of ffice:smarttags" />lace>Californialace> and has been indefinitely placed on the stop work list. I have been able to find some work with a company I have previously worked for; unfortunately it is not full time employment. In the last year the resale value of my home has declined approximately 29% and because of that currently I am over $100,000 upside down. This has made it impossible to refinance for a lower rate. I feel that a loan modification would benefit us both. I would appreciate if you can work with me to lower my payment by lowering my interest rate or lengthening my loan so I can keep my home and also afford to make amends with your firm.fficeffice" />>> > > I truly hope that you will consider working with me and am anxious to get this settled so we all can move on.