A Hardship Letter for Mortgage is a formal statement composed by a homeowner and sent to their mortgage lender to specify why the former was unable to provide the mortgage payment or payments on time and sometimes even ask for a loan modification to let the borrower keep their house or apartment.
Whether you were fired from your job, fell ill, or were forced to handle unexpected expenses, it is necessary to reach out to your mortgage provider via a Mortgage Hardship Letter and notify them about your financial problems. If you elaborate on the events that led to the payment default, promise you are doing your best to rectify the situation, and verify your intention to pay the mortgage in full, it is likely the mortgage provider will agree to a loan modification or debt forgiveness.
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