When putting together your short sale package with Dallas foreclosure assistance you'll also create a hardship letter. This letter is basically the short sale deal breaker. Once your package has been created it will be reviewed by a loss mitigator, someone who understands what you're going through.
Your hardship letter will be the one piece of your short sale package that can convey to the loss mitigator why you've been having problems with your mortgage. In order to gain the favor of the loss mitigator, you need to list the reasons why you are having problems making your monthly payments: job loss, a death in the family, physical or emotional distress or other drawbacks. These things absolutely have to be listed in your hardship letter. When you write them down, make sure to write them so that they are organized and detailed clearly.
Handwritten hardship letters have a more personal feel so be sure to sit down and take your time with it. Make a list of reasons or 'hardships' showing why you were unable to make payments and why you need a short sale with Dallas foreclosure assistance in the letter. The first page of your hardship letter must contain your name, the date the name of the loan company and the loan ID number. The end of the hardship letter should have your and your co-signer's signatures and the date.
Make sure to keep any negative comments about your mortgage company out of the letter even if they are the reason you are dealing with hardship. The loan mitigator may be less likely to approve a short sale for angry, accusatory homeowners. Showing contrition for not paying your mortgage will be a step in the right direction. You can write: "We have fallen behind on our payments and we apologize for that, but the payments have become more than we can afford."
Most of your hardship letter will explain why you are unable to make pay the lender. When writing your hardship letter only include information instrumental in getting the short sale. Take plenty of time to think out all the reasons why you had trouble paying your mortgage in the past year. You'll find that the lender can forgive homeowners who experience unexpected financial difficulties, but aren't so willing to understand a homeowner who simply squandered their income.
Having Dallas foreclosure assistance look over your hardship letter is a great way to pick up effective tips. Often, they may ask you to rewrite the letter to include pertinent details you may have left out or to remove something they think the mortgage company would frown on. Hardship letters often need thorough revisions in order to become perfect.
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