Many of us have been victims of what we consider the cruel practice of “laying off”. Losing one’s job can have a tremendously devastating effect on one especially since we have bills to pay. What is worse than not having money to pay for bills is not having money to pay off the mortgage of the house that we have so lovingly built.
But we do not necessarily need to succumb to this horror – most mortgage companies foresee circumstances such as these and have systems in place that will take care of this problem. As a “borrower”, all you have to do it write a mortgage hardship letter to the credit company and ask how you can manage a situation in which you may not be able to pay back a mortgage loan immediately.
Mortgage companies often suggest modifications to existing mortgage plans which can effectively take care of this issue. But they need proof from you that you are going through a crises and that you are trying to resolve the crises too. This proof can be given through a hardship letter. So if you are unemployed and have fallen back on your mortgage payments, the following mortgage hardship letter will interest you. Have a look!
Sample Mortgage Hardship Letter Due to Unemployment
January 7, 2015
Mr. Daniel Mathews
Mortgage Loan Officer
G & G Mortgage Solutions
192 Greenbriar Road
Ingleside, TX 71351
Dear Mr. Mathews:
Please refer to my mortgage number 10020-29 (titled Owen Wilson) with G & G Mortgage Solutions. I am writing to explain why I have fallen behind on my mortgage payments since November 2014 and would like your advice on how to handle the situation now.
I was a victim of my company’s downsizing which took place in October 2014. Since I was not given much notice to leave or a golden handshake, I found myself in a financial predicament that I had no solution for at that time. This resulted in my failure to make payments for November 2014, December 2014 and January 2015. Yesterday, I was informed through email (copy enclosed) that I have been hired by Trident Business Solutions and I am expected to start in March 2015. However, this does not resolve my immediate crises. I am in touch with a credit counseling service to determine how I can go about bringing myself out of this financial mess.
Until I receive my first paycheck from Trident Business Solutions in April 2015, I request you to modify my existing mortgage agreement so that I can pay 50% of the actual monthly mortgage. I believe that I can easily manage this with the money that was reimbursed to me as accumulated leave and some of my savings.
If there is anything that I need to do to get this modification expedited, please let me know and I will comply.
Thank you very much for your consideration.
Sincere regards,
(Signature)
Owen Wilson
Mortgage #: 10020-29
444.555.6666
Owen @ email . com