loan modification: "Hello Big Banks? Can You Hear Me?" Writing an Effective Hardship Letter...
- 01/11/13 04:06 AM
Even with well-meaning government intervention, it is almost impossible to refinance the mortgage on your upside down home. Here are a few tips I gleaned from a NY Times article by Lisa Provost: First, she recommends writing the hardship letter yourself. Second, she says not to assume the bank has a heart- it doesn’t - no matter how heart-wrenching your personal story is! Your hardship letter should be succinct and stick to the facts. For example, I lost my job, have an illness or have reduced income. Never use the fact that your home is worth less than it was when … (1 comments)
Even with well-meaning government intervention, it is almost impossible to refinance the mortgage on your upside down home. Here are a few tips I gleaned from a NY Times article by Lisa Provost:
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