Your lender may require you to create a hardship letter when applying for a short sale or other foreclosure avoidance plan. For your hardship letter, use our sample short sale hardship letters as a template for your hardship letter.
Sample 1 - Sale Hardship Letter
[Name of Borrower]
[Address of Borrower]
[City, State, Zip Code]
Loan Number: [Loan Number]
[DATE]
[Name of Lender]
[Address of Lender]
[City, State, Zip Code]
RE: Requesting short sale because of financial hardship
Dear [Name of Lender]:
This letter is a formal request for a short sale of my home due to financial difficulties. I have been unable to make my mortgage payments for the past six months since my employer, [Name of Company], downsized and removed my position.
I found another employment, but the pay is only a third of what I was making before. I can escape foreclosure if I can short sale my house. I’d prefer to pay my bills, but I haven’t been able to do so for the previous six months, and a short sale appears to be my only option.
I also believe that a short sale is in your best interests because the house is in good shape and you could sell it for market value rather than waiting for foreclosure and trying to sell a vacant home.
Thank you for taking the time to review my request. I am willing to follow whatever directions you may have. [Phone Number] or [Email Address] are the two ways to contact me.
Sincerely,
[Signature of Borrower]
[Printed Name of Borrower]
List of Enclosures
Sample 2 - short Sale Hardship Letter
[Name of Borrower]
[Address of Borrower]
[City, State, Zip Code]
Loan Number: [Loan Number]
[DATE]
[Name of Lender]
[Address of Lender]
[City, State, Zip Code]
RE: Requesting short sale because of financial hardship
Dear [Name of Lender]:
This letter is a formal request to short sell my house because of financial hardship. I have not been able to make my mortgage payments for the past six months because the company I was working for, [Name of Company], downsized, and my position was eliminated.
I found another job, but the salary is a third of my previous salary. If I can short sell my house, I can avoid foreclosure. I would like to fulfill my financial obligations, but it has not been possible for the past six months, and a short sale seems to be the only solution.
I also believe that a short sale is in your best interest, because the house is in good condition and you could sell it for market value rather than waiting for foreclosure and trying to sell a vacant house.
Thank you for considering my request. I am ready to cooperate with any instructions you may have. I can be reached at [Phone Number] or [Email Address].
Sincerely,
[Signature of Borrower]
[Printed Name of Borrower]
List of Enclosures
