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jerry
Moderator
Joined: 17 Oct 2005
Posts: 1778
Location: MICHIGAN
266.03 Dollars($)
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Post subject: |
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Hi deann,
You can write a hardship letter to them explaining your current situation and why you want them to lower your debts. But you will have to convince them that you will be able to make payments once the debts and and the payments are lowered. To view a sample hardship letter you can refer to the page mentioned below:
http://www.mortgagefit.com/know-how/about7067.html#26261
Thanks,
Jerry |
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Bo
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Post subject: modification |
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| I've called my mortgage company and asked for a hardship for the future. I'm never late on my payments but now, it seems that I will not be able to pay my April payment. So, is that mean they will look at it differently? |
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smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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Hi Bo!
Welcome to forums!
It would depend upon the lender. As you have informed them about your hardship, they may look into your financial situation and decide whether you would be able to pay off the dues or not. If the lender is convinced that you won't be able to pay the mortgage dues at any cost, then he may offer you loan modification.
Feel free to ask if you have further queries.
Sussane |
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george t
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Post subject: hardship letter |
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| Hello, I'm in the process of having to write an hardship letter. My concern is that when my mortgage started to fall behind I was going through a divorce. Since the divorce I've since remarried. My current wife hasn't been of much help concerning my mortgage. I've also changed jobs and of course the pay is lower. My question is how do keep the focus of the loan modification department on my income insead of both? |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Hi george,
In order to convince the loss mitigation department of the lender, you will have to state your financial situation in details. You can even provide documents in support of your statements. To know more about how to write a hardship letter, check out the following link:
http://www.mortgagefit.com/problems/hardship-letter.html
_________________
Procrastination is the enemy of your financial sucess |
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Sri Harsha
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Post subject: What should be the subject if payment not received ? |
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| When i am drafting a letter in a word document what should be subject if i have not received the payment...? |
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Niicss
Joined: 03 Oct 2005
Posts: 2620
Location: New Jersey
409.63 Dollars($)
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Rose
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Post subject: foreclosure |
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| due to loss of income 2 years ago, our second mortgage company foreclosed on our property. now 2 years later I was served with foreclosure summons on the same house because apparently the 2nd mortgage company did not communicate with primary lender. the original loan is still under our name , tax records are under our name , andwarranty deed all except title which was signed by an asset management. They have stopped paying the house and primary lender has located us in another state and served us with a summons with the intent to foreclose said property. Now canI salvage my home again ???? |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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krewkabkidz
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Post subject: loan remod |
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| over the course of this recession I have lost approximately 36% of my income due to lost working hours that was strictly overtime pay. My family and I have lived in the same house and never been late on our mortgage. We managed to pay off some credit cards this year by selling off all possible savings bonds and pulling everything but $500.00 aout of our savings but now we find ourselves using the credit cards again for everyday expenses. We don't eat out and have cancelled our home phone due to having cell phones that were cheaper. Will a loan remod possibly help us? We have Chase. Thanks, Mike |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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Hi krewkabkidz,
Loan modification can help you in making your loan payments more affordable. Once the loan payments are affordable it would be easier for you to pay off the dues. You can apply for a loan modification with your current lender and check out if he accepts your request or not.
Thanks |
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dsaez@samvill.org
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Post subject: HARDSHIP LETTERS |
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I am reading above and it says the lender may accept a hardship letter for marital separation but then it also says under types of harship letters that may not be accpeted "going through a divorce" -
I have not yet filed for a divorce as my husband left the home 4 months ago and is not helping me with any of the bills. At this a point I dont know what to do.
[E-mail address deleted as per forum rules. Thanks.] |
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Niicss
Joined: 03 Oct 2005
Posts: 2620
Location: New Jersey
409.63 Dollars($)
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If you are the co-borrower of a mortgage and facing problems to pay it off, then you can inform the lender about it. Depending upon your situation, the lender may offer you a loan modification.
_________________
Good is the Enemy of Great. |
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