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Financial hardship letter


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"Discover how Easy Hardship Letter Samples will help stop foreclosure and save your family's home!"

Published in: Economy & Finance, Business
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Financial hardship letter

  1. 1. Financial Hardship LetterA financial hardship letter is one that is written to abank or financial institution to explain a person’sfinancial troubles and to ask that creditor for aremediation plan in order to keep a home frombeing repossessed for non-payment. In fact think ofa financial hardship letter as an attorney for thedefense as you plead your case to the bank’s lossmitigator and explain why you should be allowedto stay in your home.Facing the prospect of moving out of your familyhome is a scary thought. In many cases thehomeowner has spent years in the home raising afamily and making his or her mark on thatstructure. To lose it and make the children leavetheir friends and schools is heartbreaking. Afinancial hardship letter explains this point as wellas what you will do to help your cause. Do youhave a plan? Is there any prospect for a better job?These are points that should be brought up in a
  2. 2. financial hardship letter.Why should you spend s much time on a financialhardship letter? Think of it this way: A lossmitigator for a bank is probably tasked with a twoto three hundred cases. Just imagine reading thatmany financial hardship letters. It’s a daunting taskand so for you to get quick results and not be miredin with a few hundred possibilities you have tomake you financial hardship letter rise above thepack.The main points for a financial hardship letterare:1. Subject Line Request - Right off the bat let theloss mitigator know what you are requesting.2. Brevity – Don’t let your financial hardship lettergo on for page after page. Keep it as short aspossible.3. Personal - Let the loss mitigator get to knowyou and your circumstances.4. Clarity – Get your points across in the clearestpossible way and then provide a summary.5. Information – Make sure you leave nothing out
  3. 3. of your financial hardship letter. Attach importantinformation such as bank statements, cash flowdocuments, income tax statements, letters ofreference, etc.6. Be Appreciative – The person reading thisfinancial hardship letter did not get you into thismess but he or she is the one that can help you outof it. So be thankful and humble in your tone.The financial hardship letter is not the only tool inyour chest for a financial reprieve but it is by farone of the most important. So make it your primeinstrument when dealing with the bank and get it insoon. Click HERE to get instant access to the Easy Hardship Letters Kit