How to Write a Hardship Letter for Mortgage Modification

People who are behind on mortgage payments and are facing foreclosure may be able to change the terms of their mortgage to temporarily or permanently lower monthly payments. One of the most crucial parts of the mortgage modification process is the hardship letter that details the reasons you fell behind in your payments, your current financial status and your plan to get out of the situation. The most effective letter with be concise and professional.

• 1

  Write your name, address and mortgage account number at the top of the page. Address the letter to "Sir or Madame" if you do not know the name of the person who will receive the letter.

• 2

  Start the letter with your request for a loan modification. Give the total loan amount, the mortgage origination date and the current payment status.

• 3

  Detail your hardship in the next paragraph. Tell the lender if you were unable to make payments due to job loss, illness, divorce, death of a wage-earner, military service, natural disaster or any other reason. State if the hardship is permanent or temporary.

• 4

  Tell the lender about your income and expenses in the third paragraph, detailing how much you are able to pay and how you will be able to afford the modified payment.

• 5

  Write your contact details, including home, office and cellphone number, at the bottom of the letter. Sign and date it.

• 6

  Mail the letter to the lender and wait for a representative to contact you for more information, documentation or to notify you of a decision.