Micro,
Welcome to the forum and thank you for joining............
These are what most lenders consider to be generally acceptable hardships....
1. Loss of job or reduction in income
2. Death of the homeowner, spouse or family member
3. Illness of homeowner or family member
4. Divorce or separation
5. Forced job relocation by employer
6. Adjustable rate reset-payment shock
The best way to set up a hardship letter..........
* First, describe the hardship and the circumstances that caused it
* Explain what steps have been taken to correct the situation
* Provide the lender with your plan to get back on track and stay there
* Assure the lender that you are a responsible homeowner who just needs a second chance and that you are very motivated to save your home.
Here is a link to some examples to help you out...........
Examples of a Hardship Letter