Loan Modification Hardship Letter Templates - Pleading Your Case

If you are a homeowner looking for your home loan to be modified, one of your initial steps is the writing of a hardship letter. This letter goes to your lending institution. It explains your financial hardship, what led up to the hardship, and how a modification will help you out of it. When writing this kind of letter, you can use a financial counseling company and/or loan modification hardship letter templates.

Hardship letter templates are invaluable resources for writing hardship letters, but still you shouldn’t automatically use the first one you see. This letter is a very big deal, and needs to be treated with seriousness. A poorly written letter could stand between you and the home loan modification that you so desperately need. If you use a template, make sure it is the very best. The following paragraphs list some really important guidelines for a hardship letter template.

First, the template should be short and concise. It should be a maximum of two pages, but preferably one. If it is a novel detailing every hardship in your life, your letter won’t get the attention you deserve. Remember that lenders are being inundated by frantic lenders and their hardship letters at this time of financial crisis, so be respectful of your lender’s time and write a neatly concise letter. This will be more likely to succeed in getting your loan modification.

Secondly, the tone of the letter should be professional. Not only should the grammar and spelling be correct, but the tone of voice should not be whiny or melodramatic. You want to sound matter-of-fact about your financial difficulties, understanding about the grave severity of your situation, and absolutely committed to keeping your house with the second chance that a loan modification would give you.

You can find different loan modification hardship letter templates in lots of different locations. On the Internet, any search engine can direct you to hundreds of sites with information on hardship letters and sample letters. Some templates cost money to download and use, while others are free for anyone to use. It doesn’t really matter where you get your template, as long as it’s a good one and meets some of the criteria suggested above.

That being said, there is no requirement that you must use a template for your hardship letter. If you find elements that you like in a few different templates, then weave them together to create your own letter. It’s also okay to read a few different templates just to kick off your brainstorming and get you pointed in the right direction, and then to write your letter from scratch. If you need extra help, financial counselors are always there to offer advice.

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