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Moe Bedard · 04-22-2009, 01:42 PM

wcorsar,

Welcome to the forum and thank you for joining...........

Being laid off would be the hardship..............

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.

04-22-2009, 01:42 PM	#57 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Examples of a Hardship Letter wcorsar, Welcome to the forum and thank you for joining........... Being laid off would be the hardship.............. 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. __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.