Fillable Printable Financial Hardship Letter Template

Financial Hardship Letter Template

Sample of Financial Hardship Letter

Date

RE: Loan number- [###########]

Property Address: [123 Main St. City, State ZIP]

Dear [LENDER],

This letter will serve as a hardship letter outlining our current financial situation. We hope that

we can determine a solution together that will resolve the delinquency and enable us to keep our

home.

Two years ago I changed careers due to the lack of opportunity in my old field of work, retail

sales. I decided to go into the construction business. I used a lot of our savings while I tried to

get established in this new line of work. Unfortunately, the housing market has slowed down

dramatically, so my hours have been cut back in the beginning of 2008. Eventually, my company

had to lay me off because they did not have enough profit to cover my salary. I was unemployed

for 3 months.

I began working for my current employer 2 months ago as a Site Manager. The company is very

stable, and my hours have been very consistent. And, I am making every effort to increase my

income by working overtime whenever possible. My wife has also been looking for part time

work. However, it has been difficult for me to pay my mortgage payments because of my recent

unemployment and reduction of income. I have contacted a HUD-certified housing counseling

agency, Piedmont Housing Alliance, to ask for their assistance in evaluating my financial

problems. I have been working with PHA because I want to keep my house.

So, at this time, I am hoping that you will consider a loan modification for my loan. I am making

every effort to meet my financial obligations, and I hope that we can work together to find a way

for me to save my house. Please feel free to contact me at [###-####]. I am working with Sarah

Brazelton, a housing counselor from Piedmont Housing Alliance. She is helping me go through

this process. Please feel free to talk with her about these things. Thank you for your time and

attention to this matter.

With Respect,

John & Susan Smith