Show me the Money!
I often hear about the lengthy letter borrowers are sending lenders to explain their hardship. Once the letter is sent they expect the bank will contact them right away to offer a loan modification; but it doesn't work that way and borrowers get frustrated. Even though having gone through some financial issues help banks being more empathic; what they really want to know is if you can afford a "modified payment".
Read More: http://mywestonblog.com/2009/11/16/can-you-pevent-foreclosure/