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 – unemployment, car
accident, medical problems (personal or family), divorce, military deployment or move, etc.
Go into some detail about each hardship. The following are the most important messages to
get across to the Lender:
a. Why you will not be able to be current again on your loan.
b. What has changed about your situation since you originally qualified for the loan?
(For example, Did the loan adjust? Did you lose your job?)
c. We do not have enough income to make these payments.
d. We are leaving the property.
2. Your Assets. Explain that you have no assets with which to continue making payments.
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
cannot provide those documents. (i.e. “I’ve been unemployed for 6 months and have not
been able to find work, so I do not have any money in the bank” OR “I haven’t worked in
over 2 years and so I haven’t filed taxes or extensions”).
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 need your help. My home on (property address) is in foreclosure. I am desperately trying to
stop my foreclosure and save my credit so that I can move on with my life.
During the last several months, I have had considerable financial hardship. (Explain hardship.)
Because of this, I can no longer afford my home, and cannot make any payments in the future.
Could you please work with the buyer that our realtor has found? I have been trying to sell the
house, but it has been impossible because the home is worth so much less than what I paid. I
hope you can help. Thank you.