Short Sale Request Hardship Letter

Short sale request hardship letter is mainly written to a bank or to a financial organization. Basically, such kinds of letters are mainly written by the person requesting the bank to consider a small sale to stop the foreclosure of your house. There are certain important points that are to be considered while writing a short sale request hardship letter. The following important points are as follows:

• Try to put forth the legitimate and important circumstances that have caused you to fall behind on your home payments
• State the bank or financial organization about your present situation and explain the possible ways that you are using to get back on your feet
• Avoid making any kind of complaints as this could worsen the situation even more
• Clearly state your motives and be completely truthful and honest to the bank or financial institution about your present facts and figures

Hence, it is extremely important to write a perfect and appropriate hardship letter. You have to put in a good amount of efforts while preparing and writing this kind of request letter. Your letter must be honest and convincing enough to persuade your lender for a short sale. In addition, you have to clearly state your facts honestly in order to convince the lender that this loss on the property or asset is inevitable.

In order to qualify for the request of short sale, you have to provide certain important evidences stating that the mortgage cannot be sold for what is particularly owned on that property or asset.

Important Tips on Writing an Effective Short Sale Hardship Letter

A short sale is written when a particular home owner is incapable of maintaining the monthly mortgage payment. The house owner wishes to sell their property or house for less than the market price or what is owned. In other words, they wish to give away their house without benefiting anything from it. In such cases, you have to write a perfect short sale request hardship letter to your lender.

The important tips are as follows:

• Kindly demonstrate your intent on winding up the short sale as soon as possible
• Your letter should have all the important financial numbers like the economical hardship, loan number, monthly payments, etc.
• Do not forget to include your important reference numbers that comprises of your name, address, phone number, email, etc.
• Try using a certified mail while mailing your request hardship letter
• Make sure that the hardship letter is completely professional as well as easy to understand
• Try to maintain all kinds of records for the ongoing and happened communications
• Make a genuine request the lender to forsake the remaining mortgage amount

Format for Short Sale Request Hardship Letter: This particular layout is mainly for a short sale request hardship letter from a borrower. The following sample is as follows:

Samatha G. Cardwell
Faber Society
1787 Oliverio Drive, Block - P, Lane 897,
Wichita, KS, USA
Zip code - 67202
samatha.cardwell@e-mail.com
Contact Number - (620) 577 4833

07/02/2012

Re: Hardship Letter for Short Sale of 4656 Jarvis Avenue, Street # 34, 12 Dominic Lane, Buffalo, NY, USA

Dear Miss. Cardwell,

This particular letter is mainly written to offer a complete explanation about my present financial situation as well as for the approval of a short sale of my property at 4656 Jarvis Avenue, Street # 34, 12 Dominic Lane, Buffalo, NY, USA.

I had purchased this particular property in November 2011. At that moment, I freshly started my own antique resale business. This particular business was quite appealing and profitable in order to create excess profits that would assist me in handling my mortgage. However, as per my expectation, the sales in that year were too low, which resulted in complete run out of my capital. Therefore, to handle my family and other financial problems, I started working as a part-time waiter. In addition, at that moment, I was even trying to revive my antique resale business, but all my efforts were in complete vain.

After making extreme efforts and struggling for a two months in order to handle my expensive mortgage reimbursements, I have no options left rather than putting my house on sale. I had put my house on market in order to clear my mortgage payments. In the month of November 2011, I had put my home on sale at an original as well as according to the market price of $310,000. The buyers or the people who visited my house ran off due to extensive amount of harm towards the garden section, pool area and the sewer water damage. This needed an immediate replacement, which I could not afford any soon. Therefore, I have nearly lowered the prices because of this. In addition, even the current prices of the homes are severely dropping and so, I have lowered the rate around $210,000. Over a couple of months, I have been forced to drop the home prices three times and therefore, I have quoted the lowest price I could list it for my house.

My home is still not getting any kinds of offers and therefore, I have made a deal with a real estate agent who has guaranteed me to sell my house as quickly as possible. I certainly believe that with the complete assistance from an actual agent will help me in selling my home finally. We like our house very much, but at this point I cannot afford it. Presently, I am working as a waiter to bear the expenses of my family. I have to sell my house in order to avoid foreclosure, and salvage my credit. I am aware that this foreclosure would certainly affect me for long term of years to come. Therefore, I request you to kindly assist me in avoiding this.

Kindly accept my present offer as a final and complete payment. I presently feel to move on and completely start over again. I would certainly appreciate if you assist me and understand my position for the presented offer. You can easily contact me on the above mentioned contact details for any further query.

Thank You.

Kindest regards,

Nikita M. Mears

This format can surely assist you in drafting your own hardship letter. Also, you can refer to Letter example for Loan Modification Hardship and example of Hardship Letter