[Sample] Letter to Reschedule Loan Payment

Sample Letter To Reschedule Loan Payment

[Name of Borrower]
[Address of Borrower]
[City, State, Zip Code]

[DATE]

[Name of Loan Officer]
[Name of Lending Institution]
[Address of Lending Institution]
[City, State, Zip Code]

Re: Restructuring of Loan – [Loan Number]

Dear [Name of Loan Officer]:

This letter is a formal request for restructuring of my [mortgage]. I have fallen behind in payments for the last three months because my wife, Name of Wife, lost her job, which reduced our total income by half. I made the last payment on [DATE]. 

I sincerely want to keep my home and make regular payments, but, at this time, require some restructuring in the terms of the loan. 

I request that the monthly payments be reduced and the delinquent payments be forgiven or recapitalized, so I can catch up and prevent delinquency in the future. 

I would appreciate it if we could work together to find a way to normalize my mortgage payments. 

I fully intend to pay my debt, but need some help until my wife finds another job and our financial situation stabilizes again. She currently has two possible job offers, and will know the results next month.

I apologize for getting behind in my payments, but, as you can see, it was out of my control.

I can be reached at [Phone Number] or at [Email Address] if you have any further questions. I hope we can meet soon to agree on the terms of a loan modification.

Sincerely, 

[Signature of Borrower]
[Printed name of Borrower]