Loan Modification Forum - LoanSafe.org - View Single Post - Learn How to Get a Loan Modification From Your Lender

MRCHASE · 10-09-2007, 02:22 PM

As for what you should say in your letter, this is what I write for people. Feel free to use it:

To whom it may concern:

My name is______ and my loan number is ________. My loan was originated/closed on _________ by ________ for your firm. Under those terms at that time, I had a rate of ______ which was fixed for ________months. During that time we had some changes to our situation which has now called for this loan to be modified in order to keep our payments current and our loan with your firm in good standing. Under our current terms our Principle and Interest payment is________ which is completely affordable by our family with respect to our income and secondary credit obligations. My intent is to keep our payment at this amount or within no more than a $________ increase. We wish to fix this payment for a term of 360 months and the rate that accompanys this change we also wish to be fixed for that time period. We are willing to submit any and all income documentation showing our ability to repay under this request. We wish to have all of our current payments be credited to our current mortgage and be considered for our modification as payments under the new agreement. This is to ensure that our credit rating does not suffer due to non-reporting of good payment history.

Please contact me immediately upon reciept of this letter regarding this matter, and please know that we wish to resolve this matter as quickly and efficiently as possible. If there is a direct person for contact in regards to our request, please include that in your response.

I thank you for your understanding in this difficult time and trust that we will be able to reach an amicable and prosperous solution for all parties invovled. Again thank you and to the reciepient of this message, have a wonderful day.

10-09-2007, 02:22 PM	#2 (permalink)
MRCHASE Banned Join Date: Oct 2007 Posts: 36 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Learn How to Get a Loan Modification From Your Lender As for what you should say in your letter, this is what I write for people. Feel free to use it: To whom it may concern: My name is______ and my loan number is ________. My loan was originated/closed on _________ by ________ for your firm. Under those terms at that time, I had a rate of ______ which was fixed for ________months. During that time we had some changes to our situation which has now called for this loan to be modified in order to keep our payments current and our loan with your firm in good standing. Under our current terms our Principle and Interest payment is________ which is completely affordable by our family with respect to our income and secondary credit obligations. My intent is to keep our payment at this amount or within no more than a $________ increase. We wish to fix this payment for a term of 360 months and the rate that accompanys this change we also wish to be fixed for that time period. We are willing to submit any and all income documentation showing our ability to repay under this request. We wish to have all of our current payments be credited to our current mortgage and be considered for our modification as payments under the new agreement. This is to ensure that our credit rating does not suffer due to non-reporting of good payment history. Please contact me immediately upon reciept of this letter regarding this matter, and please know that we wish to resolve this matter as quickly and efficiently as possible. If there is a direct person for contact in regards to our request, please include that in your response. I thank you for your understanding in this difficult time and trust that we will be able to reach an amicable and prosperous solution for all parties invovled. Again thank you and to the reciepient of this message, have a wonderful day.