Sample Hardship Letter
Bank/Current Mortgage Holder Contact Information
Re: Client Name
PRIVATE AND CONFIDENTIAL
[Loan Modification or Mitigation Contact]:
I began to get alarmed when the value of my home started to plummet. It has gone
down in value from my original estimated value of $ to the recently
appraised value of $
. Due to foreclosures and short sales in my area, the
value is expected to go down even more ongoing.
At the same time as home values are going down, the costs of everything else have
gone through the roof. My homeowners insurance increases every year as do my
property taxes. Living expenses and medical expenses are more and more each
month. Although I planned for retirement, I find myself nearly out of money and will
soon be unable to afford my monthly expenses no matter how much I do without.
I am approved for a FHA HECM Reverse Mortgage but based on my age and the