Hardship Letter for Mortgage Templates and Samples

What Is a Hardship Letter for Mortgage?

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.

Hardship Letter for Mortgage Types

  1. Generic Hardship Letter for Mortgage. Fill out this statement to inform your mortgage provider about the mortgage default - list the circumstances that did not allow you to pay on time, attach financial documentation to prove your point, and reiterate your wish to stay at your current residence.
  2. Sample Hardship Letter for Mortgage. You can use this template for reference when drafting your own explanation for the loan modification plan you are seeking - identify yourself and indicate your address, confirm you still want to keep your home and describe the financial issues you have had, offer the mortgage company to work together to deal with the issue and ask them to contact you.

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