February 23rd, 2009 - Financial Hardship Letter


Share
A financial hardship letter is written by a homeowner who is attempting to negotiate with their respective lender(s). The purpose of the financial hardship letter is to be apart of the packet a homeowner will submit to their respective lender(s).

It is an explanation for late/missed payments or how paying for the mortgage is becoming a problem. Uncontrollable events are a good reason (not financial mismanagement).
Acceptable hardships include:
1. Loss of Life: Borrower or co-borrower.
2. Loss of Marriage, with proof.
3. Loss of Health, sickness.
4. Involuntary loss of income.

The importance of the financial hardship letter is for the lender(s) to be aware of the circumstances which are faced by their borrower. It is one of the most important documents that will be submitted with the packet sent to the bank while negotiating with them.

For more information on financial hardship letters, visit www.financehardshipletter.com.

(c) Copyright, 2009 www.shortsales.tommcgiveron.com
By Thomas McGiveron, Licensed Salesperson
Coldwell Banker Matherson

This entry was posted on Monday, February 23rd, 2009 at 12:32 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Financial Hardship Letter”

  1. Kylie Batt Says:
    May 4th, 2010 at 5:15 am

    Замечательно, это ценная фраза…

    ak.fbcdn.net/images/share/facebook_share_icon…..

Leave a Reply