Dear ***,
It's been awhile since my last post, but i feel we really need to move forward on this with IMPAC. Can you please read my draft of my Hardship Letter? I used words from other hardship letters posted here, so my apologies in advance. Here it is:
Quote:
Hardship Letter to IMPAC
To whom it may concern,
I am writing this letter to explain my unfortunate set of circumstances that will soon cause us to become delinquent on our mortgage. We have done everything in our power to make ends meet but unfortunately we have started to fall short and would like you to consider working with us to modify our loan. To date we have made all of our mortgage payments on time, but are afraid we will start falling behind in the very near future. We are trying to be proactive because we want to preserve our good credit rating as well as our most important asset, our home. We love our home and are trying our best to save it.
The main reason that is causing the impeding delinquency is being laid off from a previous job, which lowered my gross income from $75K to $60K. I was a victim of the Economy when Retail Companies started cutting back. I was very fortunate to be able to gain employment with my old job, hence the $15K Annual Pay Reduction. I've exhausted almost all of my 401K which I had to use when our ARM reset in 2008. I had almost $35K from the Retirement Account (early withdrawal) and we are now down to under $4K, let alone all the penalties involved for removing funds from a 401K early. With the Economy the way it is and Utilities and Fuel Costs rising, we will not be able to keep our heads above water for much longer. With those two hardships lined up at the same time we have a drastic decrease in cash flow it has got to the point where we are struggle to make ends meet to pay our mortgage.
We have not been late or have missed any payments to date and want to keep it that way. We desperately want to keep our house. We believe that a loan modification will do just that. We want to preserve our credit and good standing with you and just need a second chance to do that. Please consider us for a Home Loan Modification.
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