Short Sale Information - Sample Financial Hardship Letters

Sample Financial Hardship Letters

Below is a sample of a financial hardship letter. Writing a financial hardship letter to creditors may be necessary when you have fallen behind on paying off your debt. A financial hardship letter to a mortgage lender is a common type of financial hardship letters.

When the real estate market boomed, everyone seemed to be borrowing more than they could afford in hope that the market value of their homes would go up and they could sell for profit. When the real estate market softened, more people are in debt than ever with no means of repaying them. More and more people fall into financial hardship and need to write letters of financial hardship to mortgage lenders.

You can use the sample financial hardship letters on this website to modify to suit your situation. The sample financial hardship letter below will help the bank accept the short sale proposal.

Sample Financial Hardship Letters

Dear Mr. Banker:

I am writing this letter to share some of the hardships I have endured over the [time frame]. As you know, my property located at [address] is currently facing foreclosure. I have tried to sell the property for months and have gotten only one serious offer because of the poor condition of the property. Based on the offer I have, I urge you to please accept the $[amount] being submitted by [name of short sale submitter].

Please accept this offer as payment in full. My attorney has advised me to file bankruptcy, but I prefer to avoid further destruction of my credit. I just ant to move on and start over.

I am enclosing my bank statements from the past three months, late notices on my car and anything else I can find that shows the financial trouble I am facing. I have also enclosed my last year's tax returns.

I am in the [industry of your job] and am currently looking for another field in which to work. So far, I haven't had much success.

If there is any other information you need, please feel free to call me.

Sincerely,

Homeowner