| h4h
I am looking into modifing my loan into a h4H loan. my main objective is to go from an adjustable rate/interest only loan to a 30yr fix rate. does any have any advice to give or suggestions in doing this. i have included my hardship letter. any help will/is appriciated
To Whom It May Concern:
We have done everything in our power to make ends meet but unfortunately this is getting harder to do and would like you to consider working with us to modify our loan. Our number one goal is to keep our home and we would really appreciate the opportunity to do that.
As you know, we had never been late on our payments. When we purchased our home we were told the loan could be refinanced without any problem so we took an adjustable rate interest only loan. The original mortgage terms are terrible but it was the only loan I was qualified for at the time. However, that turned out not to be true due to the downturn of the housing industry. Since the purchase of our home, our resale value has declined by over 20%. This has made it impossible to refinance for a lower rate.
Our plan was to refinance after a year in our home to get 30 year fixed rate with a lower payment that includes principle and taxes. Since that is no longer a viable option, we contacted the Hope for Homeowners Program for guidance. We have submitted numerous documents declaring our income and expenses. We can make payments but the payments plus property taxes we have now are just too much for us to bear.
We feel that a loan modification would benefit us both. We would appreciate if you can work with us to lower our payment so we can keep our home.
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 truly hope that you will consider working with us and we are anxious to get this settled. | 
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