A Hardship Letter for a Short Sale is a typed or handwritten statement prepared by the borrower and sent to the lender to explain the circumstances that led to the payment delay and convince the lender of the necessity to sell the property at a lower price.
You may need to dispose of your residential estate for less than the sum of money that remains on the mortgage. If you find a third party that is willing to buy your apartment or house, the proceeds from the sale will go to the lender - typically, a financial institution that financed the mortgage in the first place. This bank may forgive the difference or require the original borrower to pay the difference between the price of the short sale and the initial value of the mortgage. You can download a Hardship Letter for Short Sale template through the link below.
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