Before you write a mortgage hardship letter, you need to have a legitimate excuse for falling behind on your mortgage payments such as loss of a job, family death, or severe illness.  Financial problems in and of themselves are NOT an adequate excuse for writing a mortgage hardship letter.

What are the Reasons for Writing a Mortgage Hardship Letter?

·    Medical Condition, Medical Bills, or Serious Illness
·    Marital Separation or Divorce
·    Death, Death of a Spouse or Co-Signer
·    Loss of Job or Income
·    Failed Business
·    Job Relocation
·    Incarceration
·    Natural Disaster
·    Being Called to Service in the Military
·    Other

Many mortgage borrowers write a hardship letter after having payment shock to an adjustable mortgage rate changing, but many mortgage lenders do not see this as a valid reason to modify a mortgage.

How to Write a Mortgage Hardship Letter

<Date>
<Borrower Name>
<Borrower Address>
<Borrower Phone Number>
<Borrower Account Number>

RE: Hardship Letter with <Lender Name> and Account Number <Account Number>

To Whom It May Concern:

This letter is a financial hardship letter to request a modification of my mortgage.  This financial hardship is primarily due to <Insert Hardship Reason>

As of <Insert Date> I have fallen behind on my mortgage payments due to the fact that my <Insert Hardship Reason> has caused my income to drop signicatly and I can not currently continue making payments to the original terms of the loan that I had originally agreed to.
Please find attached several documents as evidence of my financial hardship situation <Be sure to include bank statements, check stubs, proof of income, delinquent notices, or anything else that will help your mortgage company determine hardship.

As I have been a dependable customer for <insert mortgage term length>, I would like for <Insert Mortgage Lender> to consider <modifying my loan, refinancing my loan, settling my debt, etc> 

This financial hardship is a temporary condition and very soon I will be able to commit to my original mortgage payments.
Please feel free to contact me at <Insert Phone Number>
Thank you for your concern in this matter and understanding that I would like to remain a loyal customer.  I appreciate any help that <Insert Lender Name> can provide.

Sincerely

<Borrower Name>
<Borrower Address>
<Borrower Phone Number>


Be Patient With Your Mortgage Hardship Letter

When writing the hardship letter to your mortgage company, bear in mind the economic foreclosure crisis that has been spreading.  Due to these issues, many mortgage lenders are extremely backlogged and have a hard time quickly replying to your mortgage hardship letter.  When you do write a hardship letter, keep it short, sweet, and right to the point and under two pages.

The Hardship letter is just one piece of the problem if you are behind on your mortgage.  Always be sure to take legal advice before making any serious financial decision to your lender.