How to write a hardship letter for mortgage loan modification

We were denied the 1st time, and told we didn't "qualify", but were given no other explaination as to why. Even the customer service reps were unable to tell us why. Then we defaulted a few months later as well as on ALL our credit cards and reapplied in November ' I called our bank to see what was going on with our application.

How to write a hardship letter for mortgage loan modification

Meet the Liston Family. I wanted to let you know Chase called said they postponed our foreclosure indefinitely!!!!!!!!!!! And would see our loan mod through!!!!!!!!

We want to thank you Anna for all that you have done for us. When this is all over, we want people to know what a blessing you are.

Have you been denied for a loan modification? Scared about the loan modification process? If you have been denied for the Home Affordable Modification Program, often called the HAMP or Obama loan modification assistance program, it is of upmost importance for you to 1 remain calm and 2 find out in great detail all the reasons why you were declined.

Being denied is frustrating and scary but it definitely does not mean it is the only chance that you have. If you are determined to keep your home and you know you can make a reasonable payment you have a chance to still make it work.

how to write a hardship letter for mortgage loan modification

I know people that have been denied up to 10 times for loan modifications that end up saving their homes because of their determination and refusal to give up even when it seemed they had no hope. Sometimes a chance to regroup and take a breath is all we need to turn the page and have success.

Common reasons for denial are: Keep in mind that if after performing the 3 steps available to the servicer to modify your loan under the Home Affordable Modification Program, H.

5 Reasons Not to Apply for a Loan Modification in the Home Affordable Modification Program (HAMP)

This is why it is imperative to verify the income and expenses they used line by line to check for human error and you just have to be resourceful and examine your information with a fine tooth comb and with a different perspective, regroup, make changes and then resubmit your complete updated modification request.

Give it all of your effort, follow up weekly, or even every other day if your in jeopardy of losing your home soon. Keep a log and follow a submission checklist.

The other reason for disqualification is missing requested documentation so stay organized, calm, patient, and keep a positive attitude.

If they say it is because of your income or your expenses you need to go down line by line with the representative of your bank and then compare the numbers. We are all human and in my experience I have witnesses many a mistake in this area. I have been told by negotiators at many of the lenders that the lack of explanation of the hardship is another big reason people are denied.

Consider all of these factors when writing out your Hardship letter and make sure you put all of the reasons you have a hardship and are in need of help but try to keep it to one page if possible and legible.Constantine created his Save Your Home Plan of Action, fought back with confidence and Saved the family home!!!

You can too. A Special Education teacher who lives to help children fought with Wells Fargo for over a year, was declined for HAMP and almost gave up on his home, until he created his Save Your Home Plan of Action and became his own best advocate.

Contacting Wells Fargo Headquarters. Wells Fargo is a financial institution that works with personal and business accounts. The company offers services like checking accounts, savings accounts, wealth management and other financial products to customers.

When you write an adjustable rate mortgage loan modification hardship letter, you are formally. Our company PETROLEUM CORP is the most viable and efficient connection between real buyers for all principal energy commodities.

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And also in BONNY LIGHT, OTHER CRUDES AND COALS. Jun 05,  · How to Write a Hardship Letter for Mortgage Loan Modification Three Parts: Starting Your Letter Explaining Your Hardship Perfecting the Letter Community Q&A A hardship letter is a key factor in getting approved for a loan modification program%(16).

Writing a Loan Modification Hardship Letter (with Samples) Use these sample loan modification hardship letters as templates for your formal notification. A loan modification hardship letter is a formal way to request a modification to a loan.

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