THE HARDSHIP LETTER

The Hardship Letter is written by the seller. It is used to explain to the lender the reasons for the borrower's need for a short sale.  I have always heard and have personally seen that hand written hardship letters hit home with loss mitigators.

The reasons and demonstration of hardship can be inclusive of  divorce, job loss, medical issues, death in the household and should be included as long as they are truthful.

Usually just a one page letter with the pertinent information will satisfy the hardship letter requirement. 

Hardships reasons as the ones listed below:

• Unemployment
• Reduced Income
• Divorce
• Separation
• Medical Bills
• Too Much Debt
• Death of my Spouse
• Death of a family member
• Payment Increase
• Business Failure
• Job Relocation
• Illness
• Damage to Property
• Military Service
• Incarceration
• Other (Please Specify)