{"id":1932,"date":"2010-01-12T17:50:48","date_gmt":"2010-01-12T22:50:48","guid":{"rendered":"http:\/\/www.DuncanWierman.com\/content\/?p=1932"},"modified":"2010-01-13T14:56:14","modified_gmt":"2010-01-13T19:56:14","slug":"short-sale-hardship-letter","status":"publish","type":"post","link":"https:\/\/www.duncanwierman.com\/content\/short-sale-hardship-letter\/","title":{"rendered":"Short Sale Hardship Letter"},"content":{"rendered":"
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The sadder the hardship letter, the better<\/span><\/strong>. The goal of the letter is to bring tears of sadness to the readers eyes with a statement of facts written by the owner describing how they got into the financial bind. The owner should make a plea to the lender to accept less than full payment and to work with you (your name) on the short sale.<\/p>\n

Loss mitigators are not inhumane and can understand if you lost your job, were hospitalized or a truck ran over your entire family. Lenders are not empathetic to situations involving dishonesty or criminal behavior.<\/p>\n

The letter below from Indymac (now defunct) does a great job of guiding the owner. Our software utilizes the same format and includes instructions to the owner for completing a compelling hardship letter.<\/p>\n<\/div>\n

THIS IS A SAMPLE HARDSHIP LETTER:<\/h2>\n

More information on Short Sale: Sample hardship letter<\/strong> (of course, each situation if different) your seller should be able to tell you why they are in a critical condition and why they need to short sell their home.<\/p>\n

Lender Name Lender Address Lender’s fax number<\/p>\n

Today’s Date<\/p>\n

RE: Hardship Letter\u00a0\u00a0–\u00a0 Short Sale for _____________________ address<\/p>\n

To whom it may concern:<\/p>\n

I purchased my home at _____________ in ___________.\u00a0 At that time I was employed by _______and business was very good.\u00a0 My salary and the possibility of a promotion and raise made me sure that I could easily support my mortgage.\u00a0 Unfortunately, a downturn in the market caused my company to reduce its workforce and I was laid off.<\/p>\n

After searching for a comparable job, I finally got a temporary position as an office assistant as I continuing seeking other work.\u00a0 I struggled for several months to make my mortgage payment, and was also hit with some medical payments that I did not expect (the COBRA payment was more than twice what I was paying when employed).\u00a0 I knew I would have to sell my home to protect my credit rating and possibly have enough cash left over for moving expenses and some savings.\u00a0 I put my home up for sale by owner in _________, but there were several problems that I did not have enough money to fix, such as the broken fence in the back yard and some pretty severe leaks in the roof which indicated a new one was needed.\u00a0 Over the next three months I lowered the price three times but still had no takers.\u00a0 I am now working with a real estate agent and I believe she will be able to help me sell quickly.<\/p>\n

I really love my house, but I know that I cannot afford it.\u00a0 I am a single parent, working as a temporary employee with few benefits and no savings.\u00a0 My financial situation cannot sustain a home mortgage of nearly $2200 per month.\u00a0 I want to sell the home, avoid foreclosure and salvage my credit.\u00a0 I know that a foreclosure on my record will affect me for years to come.\u00a0 I would ask that you please assist me in avoiding this.<\/p>\n

Please accept this offer as payment in full.\u00a0 My attorney has advised me to file bankruptcy, but I prefer to avoid further destruction of my credit.\u00a0 I just want to move on and start over.<\/p>\n

I deeply appreciate your help and understanding in this matter.\u00a0 If you have any questions, or need anything further from me, please contact my agent or me personally.<\/p>\n

Sincerely,\u00a0 Home Owner Name\u00a0\u00a0 Address and Contact Information<\/p>\n","protected":false},"excerpt":{"rendered":"

The sadder the hardship letter, the better. The goal of the letter is to bring tears of sadness to the readers eyes with a statement of facts written by the owner describing how they got into the financial bind. The owner should make a plea to the lender to accept less than full payment and … Continue reading Short Sale Hardship Letter<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":939,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[303],"tags":[],"_links":{"self":[{"href":"https:\/\/www.duncanwierman.com\/content\/wp-json\/wp\/v2\/posts\/1932"}],"collection":[{"href":"https:\/\/www.duncanwierman.com\/content\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duncanwierman.com\/content\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duncanwierman.com\/content\/wp-json\/wp\/v2\/users\/939"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duncanwierman.com\/content\/wp-json\/wp\/v2\/comments?post=1932"}],"version-history":[{"count":11,"href":"https:\/\/www.duncanwierman.com\/content\/wp-json\/wp\/v2\/posts\/1932\/revisions"}],"predecessor-version":[{"id":2071,"href":"https:\/\/www.duncanwierman.com\/content\/wp-json\/wp\/v2\/posts\/1932\/revisions\/2071"}],"wp:attachment":[{"href":"https:\/\/www.duncanwierman.com\/content\/wp-json\/wp\/v2\/media?parent=1932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duncanwierman.com\/content\/wp-json\/wp\/v2\/categories?post=1932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duncanwierman.com\/content\/wp-json\/wp\/v2\/tags?post=1932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}