Gb09, Other/Just Looking in 19141

What is a letter of Hardship?

Asked by Gb09, 19141 Mon Sep 28, 2009

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Don Tepper, Agent, Burke, VA
Mon Sep 28, 2009
A hardship letter is a letter--ideally handwritten--to your lender explaining the hardship or hardships that make it impossible for you to continue making mortgage payments.

Typical hardships include death of a wage earner, divorce, illness, substantial medical bills, job loss, and so on. Hardships do NOT include an adjustable rate mortgage that adjusted upward, the purchase of a new car, or simply the desire to sell the property when you're upside down.

Hope that helps.
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Terrence Cha…, Home Owner, Allentown, PA
Mon Sep 28, 2009
I shall assume that it is a lender you're trying to help with or someone else you are thinking about getting emergency funds from. A letter of hardship is just that. It's a letter in which you state the you can not afford (whatever loan etc) due to (loss of job, death in family, injury caused disability, etc).

Hope that helps,

Terrence Charest, e-Pro
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