Proven Hardship Letter For Loan Modification

Access effective hardship letter templates for loan modifications to help ease your financial burden and secure approval

Template 1: Job Loss

Subject: Request for Loan Modification Due to Job Loss





Dear [Lender’s Name],

I am writing to formally request a modification of my mortgage terms due to a recent job loss. As of [date], I was laid off from my position at [Company Name], and currently, I am facing significant financial hardship.

My income has been severely impacted, and I am unable to meet the original terms of my loan. I am committed to maintaining ownership of my home and am seeking a modification that will lower my monthly payments to a more manageable level.

Attached are my employment termination notice and a detailed outline of my current financial situation. I am eager to work with your team to find a sustainable solution.


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Thank you for considering my request. I look forward to your prompt response.

Sincerely,

[Your Name] [Contact Information]


Template 2: Medical Emergency

Subject: Loan Modification Request Due to Medical Emergency

Dear [Lender’s Name],

I am requesting a modification of my mortgage terms following a significant medical emergency that has affected my financial stability. Recently, I underwent [describe medical condition or procedure], which resulted in high medical costs and an inability to work.

As a result, my ability to fulfill the financial obligations of my original loan agreement has been compromised. To prevent defaulting on my loan, I am seeking a modification that would reduce my monthly payments.

Enclosed are documents verifying my medical condition and a detailed breakdown of my financial status. I am hopeful for a modification that will help me navigate this challenging period.

Thank you for your understanding and assistance.

Best regards,

[Your Name] [Contact Information]


Template 3: Reduction in Income

Subject: Request for Mortgage Loan Modification Due to Income Reduction

Dear [Lender’s Name],

I am writing to request a modification of my current mortgage terms due to a significant reduction in my income. My earnings have decreased due to [reason, e.g., reduced work hours, industry downturn], making it difficult to meet my current financial obligations.

I am committed to keeping my home and would like to avoid delinquency. I am requesting a modification to lower my monthly payments, aligning them with my new financial circumstances.

Attached are my recent pay stubs, a current budget, and other relevant financial documents. I appreciate your consideration and hope we can find a viable solution together.

Thank you for your attention to this matter.

Sincerely,

[Your Name] [Contact Information]

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