Mortgage Modification Hardship Letter – Essential Tips to Qualify For Obama’s Modification Loan


There are certain unforeseen and depressing phases in the financial functioning that force a debtor to opt for a loan modification agreement from the lender. However the lender or the bank can’t just trust the borrower’s word for it and requires a genuine proof of the compelling economic scenario. This is provided by the one seeking the loan in the form a hardships letter which, as the name suggests, is an account of what has hit the debtor and is acting as a blockage to the monthly loan repayments.


The hardship letter to a great extent decides the course that your application will take with the lender. The success of the whole loan modification negotiation is dependent greatly upon how convinced the bank/lender is with the hardship letter. The letter goes to the Loss Mitigation department for review. Here are a few tips that you can glance at to make your letter stand out from the others in the cut throat competition.

Be original and to the point

Remember that you are not the only one applying for the mod process. There are thousands, maybe even more out there who have submitted an account of their hardships in writing. So make sure that the one reviewing your letter has his/her work considerable cut out by keeping the letter short and precise.


Also copying a letter direct from the internet can really screw up your chances as the reviewer has bound to have gone through that popular letter or worse, might be the one who approved it!

Emotionally neutral

A part of keeping the letter accurate is to avoid sounding too desperate and trying to connect with the reviewer emotionally. This can really put off the concerned person and clear out the path towards an outright rejection.


Apart from these, it is very obvious that when going for a mortgage modification, make sure you have mentioned everything they require in the hardship account such as the nature of the hardship, the monthly income etc. You can access various loan modification services to get a better idea on how to cover everything in a precise manner.


Source by Richard Lowe