Fillable Printable Mortgage Hardship Letter Template

Mortgage Hardship Letter Template

Request for a mortgage hardship variation

Use this sample letter to request a hardship variation of your mortgage payments.

This sample letter is for information only and should not be relied upon as legal advice. The

information applies only in Victoria, and was updated on 9 May 2012.

[Date] [Your street]

[Your suburb and postcode]

[Your phone number]

Hardship Manager

[Name of lender/debt collector]

[Street number and name]

[Suburb and postcode]

Dear Hardship Manager,

Subject: Request for mortgage hardship variation

Name: [Your Name] Account No. [your number] Contract/Loan No.: xxxx

I request a hardship variation to the above home loan pursuant to consumer credit laws due to

my changed financial circumstances. [give details] This has left me in a position of financial

hardship. I anticipate I will be able to comply with my loan if it is varied.

[Choose one of option A, B or C]

A I request that you postpone my mortgage payment/s due on [Day] [Month] [201x] so

that it/they will now be due on [Day] [Month] [201x].

B I request that you extend the period of the mortgage for [xx] months so that my monthly

payments are reduced to $[xx],

C I request that you postpone the mortgage payment/s due on [Day] [Month] 201x so that

it/they will now be due on [Day] [Month] 201x, and extend the period of the mortgage for [xx]

months to allow me to make the missed payments.

To support this request I have attached details of my income and expenditure to demonstrate

that I will be able to make the changed payments if you are willing to vary my contract.

I request that you do not commence any legal action in relation to this matter until you have

considered my request.

Please contact me by phone if you wish to clarify any aspect of this request.

I look forward to your favourable response to my request for a variation to my home loan. If I

have not had a response from you in relation to this request in fourteen days, I shall take my

request to the relevant ombudsman scheme without further notice.

Yours faithfully

[Your name and signature]