A Hardship Letter for Mortgage is a document written by a homeowner to their lender to explain why this homeowner is defaulting on their mortgage. It must convince a mortgage lender to grant a loan modification or short sale and avoid foreclosure.
The homeowner is under the obligation to describe the exact life changes or circumstances that make it impossible to maintain the home with the current mortgage terms and keep paying for the mortgage. Usually, these circumstances are unemployment, unforeseen pay cut, illness or injury, marital difficulties, including divorce, death of the family's wage earner, and incarceration.
Click on the link below to download a printable Mortgage Hardship Letter template.
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