Hardship Letter Guidelines
Remember to state the following items in your HANDWRITTEN hardship letter:

1. Hardships – What are your hardships (current and past). For example – unemployed, car accident, medical problems (personal or family), etc. Go into a little detail about each hardship. The following are the most important messages to get across to the Lender:
   • Why you will not be able to be current again on your loan.
   • We do not have enough income to make these payments.
2. Your Assets – Explain that you have no assets with which to continue paying.
3. Any signed exemptions of documents – If you do not have bank statements, pay stubs or tax returns, you will need to explain the reason in more detail in your letter as to “why” you can not provide those documents. (i.e. I’ve been unemployed for 6 months and have not been able to find work) Note- realize that if you don’t have tax returns, then the bank will ask for Extension-Fillings. So, if you don’t have Extension-Fillings either, explain why in this letter. (i.e. “I haven’t worked in over 2 years and so I haven’t filed taxes nor extensions”, or “I haven’t filed my tax returns for the past 2 years and I failed to file extensions as well).
4. Bankruptcy – You could also mention “I don’t want to have to file bankruptcy”.

Sample Hardship Letter

[*Remember, YOU must handwrite your own Hardship Letter to the Lender(s)]
To Whom It May Concern:

I have been unable to make my payments on my house, and I am now facing foreclosure. My inability to keep up with the monthly payments is the result of (loss of job, illness, accident, death or disability of a wage earner – describe in detail what your hardship is)

In spite of my current financial difficulties, I expect that it will only get (better / worse). I am not in a position to continue making my mortgage payments. This was not at all what I intended but I have come to the conclusion that this is my only option.

Your help and consideration in this matter are very much appreciated.
{Signature} {Date}
{Printed Name}