Hardship Letter Examples

   Mortgage Modification Payment Shock

Dear {lender}:

I am writing to urge you to consider modifying my mortgage payments to an amount more in line with my income and typical amounts for a property of this age, size, and location.

When I took out the loan {when}, I, like many laypersons and real estate professionals alike, did not foresee the mortgage crisis. Moreover, I failed to understand that my payments would adjust from {amount} to the extreme amount of {amount}.

As my home value fell, so did my income potential as my city saw the impacts of the economic downturn.

Of course, I wish that I had had the foresight to take a different action back in {time period}. But, like so many others, I assumed that home values would continue to climb and that I could refinance. I was wrong.

Please consider the hardship I am facing due to {percentage} of my income being committed to monthly mortgage payments. This is not sustainable.

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Index of Hardship Letter Examples