Should the Seller Write a Letter Requesting a Loan Modification?

This is usually called a hardship letter, and must be included with the application for a loan modification. In general, homeowners should describe what caused them to fall behind in their mortgage payments, whether it was a job loss, medical emergency, or other issues. Also, the borrowers should detail what they did to solve the problem, how they recovered from it, and what they are doing to make sure that they never fall behind again.

Homeowners should use the hardship letter as an opportunity to gain more understanding of their situation and make the best case they can to the bank. If the borrowers have fully recovered, they should state this, and if they have replaced some income but their situation has permanently changed, they should also disclose this to the bank. The more information the bank has that may not be explainable anywhere else but the hardship letter, the better. If you or someone you know needs to review your options to prevent foreclosure contact Tami Saner at (916) 417-6162.

 hardship letter

Tami Saner at Keller Williams Roseville, Ca Professional Luxury Home HAFA Certified Short Sale Specialist, Certified HAFA Short Sale Specialist, Certified Pre-Foreclosure Specialist in Granite Bay, CA and surrounding areas including Roseville, Rocklin, Lincoln, Folsom, Auburn, Loomis, El Dorado Hills, Sacramento, Citrus Heights, Fair Oaks, Orangevale, Carmichael, Gold River, Rancho Cordova, Antelope, New Castle, Loomis, Auburn, and more. Granite Bay Short Sale Specialist, Rocklin Short Sale Specialist, Roseville Short Sale Specialist, Lincoln Short Sale Specialist, Chase Short Sale Specialist, Wells Fargo Short Sale Specialist, Bank of America Short Sale Specialist, Aurora Short Sale Specialist, Tami Saner & Associates Negotiate Direct with all Major Lenders through out Placer & Sacramento Counties & surrounding areas.

Call Tami (916) 417-6162

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2 Comments on Keller Williams Roseville - Tami Saner Preferred Short Sale Specialist - Shares Loan Modification Hardship Letter Questions

MAY
02
2012
146,236 Points 1 Featured Post Called Shot Master

I am assuming that you are speaking of the seller writing their own hardship letter.  In every short sale that I have participated in... the lender has always asked the seller to write a letter detailing all of the reasons (hardships) that have led to the need of a loan modification.  The more heartfelt the letter, the better.  (within reason, of course)
10:17pm • #1
Outside Blog

Yes, the more details & heartfelt the better, sometimes that 1 letter may make all the difference in the world. Negotiators have hearts to. =)
10:20pm • #2


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Tami Saner Keller Williams Roseville, SHORT SALE REALTOR, GRANITE BAY, ROCKLIN

Rocklin, CA

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SHORT SALE GRANITE BAY, ROSEVILLE, ROCKLIN SHORT SALE AGENT

Address: Granite Bay, Lincoln, Folsom, Sacramento, Stanford Ranch Rocklin, Whitney Oaks Rocklin, Whitney Ranch Rocklin, West Roseville, East Roseville, Roseville, Ca, 95678

Office Phone: (916) 417-6162

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