It is difficult to meet your mortgage obligations when you are unwell. However, mortgage companies may not always understand unless they have proof that you have been too unwell to make your mortgage payments. In such circumstances, you should write a mortgage hardship letter to the lending company and provide details of your illness and how it has kept you from meeting your payback commitments.
Writing a mortgage hardship letter is not difficult especially if it is a health concern that you want to put forward. If you have been unwell for some time, you will have proof of it – doctor’s prescriptions, A&E receipts and hospital bills will act as a backup for you. You can simply write why you have fallen back on your payments and enclose copies of hospital bills or doctor’s prescriptions to augment your claims of illness.
Mortgage hardship letters written for the purpose of letting a lender know that you have been ill, need to possess specific information of your illness. You must also make sure that you present the lender with a possible solution rather than the problem only. You can ask for a modification to your lending agreement or ask for it to be put on hold until you can make arrangements to pay back.
Refer to the mortgage hardship letter sample below:
January 6, 2015
Mr. Kevin Young
SAFE Credit Union
88 Ayer Drive
Madisonville, KY 42431
Dear Mr. Young:
The purpose of writing this letter is to explain the circumstances that have led to delinquent mortgage payments from my end. I was diagnosed with Multiple Sclerosis (MS) in October 2014 and have since then been on a horrendous rollercoaster ride.
Due to the illness, I have not been able to work full-time which has resulted in a significant loss of my income. My salary has been docked by 50% and it is becoming difficult to make ends meet now. Two weeks ago, I applied for SSI disability and my lawyer assures me that given the circumstances, there is a huge possibility that it will be granted to me. Once I have obtained funds from this source, I will be able to bring my account to a current position. Additionally, I will be working from home on graphic design projects which will bring in extra income. So I hope that within the next month, I will be back on my feet, figuratively speaking.
Please refer to the enclosed copies of my diagnosis and SSI disability application. I would appreciate it if you would guide me on how I can apply for a mortgage modification. Thank you for taking out the time to read this letter and understand my dilemma.
Mortgage # 7817-1000
5018 Huckshold Drive
Madisonville, KY 61837
Tel: (000) 000-0000