Loan Modification Hardship Letter

It has been often seen that people write loan modification hardship letters to a banks or other financial institutions. They make the financial institution understand their problems, and request them to modify their loan which they find hard to pay regularly. Whenever a person faces such problems in his/her life, he/she is supposed to write a loan modification hardship letter. In your letter, you need to show a valid reason that would be accepted by the other party. You can mention reasons like being laid off, loss of job, hospitalization, additional essential expenses, salary cut, etc. It's always an opportunity for you to get rid of additional problems in your hard times. Such letters always support you when you are facing such financial problem in your life. The letter is helpful in case of different loans such as car loans, home loans, personal loans, etc. You will have to make the other party understand your problem, so that your purpose of writing the letter gets fulfilled.

Loan Modification Hardship Letter Samples

Using samples or templates are the best way to start while writing any letter, as it gives you the basic idea about writing a letter. Go through the samples given below, and you will come to know about the structure of a loan modification hardship letter:

Loan Modification Hardship Letter Sample 1

Mary Davis
123 Benjamin Road
Maple Street
Nevada - 21661

To,
Donna Scott
XYZ Bank
321 Lincoln Road
Cedar Street
Nevada - 21771

Date: 26th January, 2010

To Whom It May Concern:

I am writing this letter to bring to your kind notice, that I am facing some unfortunate circumstances and would request you to modify my loan payment. I have tried my best to overcome this situation, but all in vain. I am not able to pay the loan amount as per the deal between your bank and me.

The reason being, that my son met with an accident, and he is severely injured. He is still hospitalized in XYZ Hospital and needs a long treatment to come out of the injury. I have spent a lot on his treatment, and so the whole budget for next three months has collapsed. I need some time so that I could overcome this situation, and till that I request you to modify my loan installments. Hope you will understand my situation, and do me a favor in this unfavorable circumstance.

I would like to hear positively from you soon.

Yours sincerely,

Mary Davis

Loan Modification Hardship Letter Sample 2

Marry Davis
Susan Lewis
213 Palm Street
Daffodil Apartment
Utah - 21681

To,
Sarah Evans
199 Cedar Street
ABC Bank Pvt. Ltd.
Utah - 21161

Date: 15 June, 2010

To Whom It May Concern

I am writing this letter requesting you for loan modification, as I am facing some unfavorable financial crisis in my life. I have always been up to date as far as my loan payment is concerned, but this time, it is not possible for me to pay the loan like before.

The reason behind this crisis is health issues in my family. Two of my family members are suffering with typhoid, and they both are hospitalized. They are undergoing treatment and I am the only bread earner in my family. I had to spend a lot on their treatment, and I still need to bear their expenses till they fully recover. So, I want to modify the loan payment for the next 6 months, so that I do not face much problem in my regular living conditions.

Hope you will consider my request and do me a favor. I would like to hear from you soon.

Yours sincerely,

Marry Davis

The samples of a loan modification hardship letter are given above to give you a basic idea about such letters are written and guide you while writing such letters. Hope the samples given above helps you in your future letter writing. Also, you can view Hardship Letter for Short Sale Request and sample of Chase Hardship Letter.