Here is a sample Hardship letter. Feel free to use as a tool for creating a similar type of document.....
(Date)
RE: Hardship Letter - Short Sale for (property address)
Loan #
Dear Countrywide:
We purchased our home at (Address) in (date) for the price of $(0). At the time, we were happily married and our jobs supported our home. Towards (date), we had gone through some major relationship challenges and the only option for us was to separate and we did that in (date). We are currently in the process of getting divorced. Unfortunately, with our separation, we could not afford this home anymore and had to vacate the home.
We tried to sell this home for the amounts needed to cover our closing costs and loans that we owed to you, which was $(price). This produced no showings and was obviously way over the market price. I am now working with a real estate agent, who has advised us that this market has declined since we purchased the home. Our Real Estate agent, (Jason Schweiger), has advised us that the fair market value for our home is near $(price). Since listing at $(price), we have have seen two offers. One at $(price) and another at $(price). We have accepted the higher offer, contingent to your approval of a short sale.
We really love this house, but we know that we cannot afford it. We are currently behind in our payments and have moved into separate, less expensive residences. We want to sell the home, avoid foreclosure and salvage our credit. We know that a foreclosure on our record will affect us for years to come. We would ask that you please assist us in avoiding this.
Please review and accept the current offer from our Real Estate agent. My attorney has advised us to file bankruptcy, but we prefer to avoid further destruction of our credit. We just want to move on and start over.
We deeply appreciate your help and understanding in this matter and we had no idea that we would get separated or that the Real Estate market would go down so much. If you have any questions, or need anything further from, please contact my agent or us personally.
Sincerely, (name)
(Sign)
;)
;)
