Hardship Letter Loan Modification: Good and Bad Examples from Some Owners

A hardship loan modification letter may help you get your loan modification application approved. For this reason, it must be written in a way that meets the main objective. You should try to make it persuasive so that the lender allows you to earn those favorable interests. You can hire and consult a loan modification professional on how to write an effective hardship loan modification letter. Everything may lie on how you craft your letter indicating you indeed deserve the service. Certain factors need to be considered so as to write a convincing hardship loan modification letter.

An example of what a good letter contains

To be successful, you need to write a letter that is short and straight to the point. Articulate your points clearly by stating your current situation categorically. You should try to prove that it is not your fault but you are a victim of circumstances. It is better for you to demonstrate how you plan to carry out the new obligations without failing. This information might help the lender make a considerate decision if there is a compelling case that might support your action. To be successful, ensure your information is brief, straight to the point and actionable.

An example of what a bad letter contains

Most hardship loan modification letters that fail to help the applicants get a better deal or loan modification restorations usually lack enough information. They are half-baked and don’t contain any substantive information that might be actionable. Thus these letters are not able to get information that can help in assessing the eligibility of the applicants. They may also not explain the reason behind one’s financial hardship or may provide unnecessary information about one’s personal problems, like alcoholism. In fact, these statements will work against you and should be avoided at all costs.