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carol
Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California
29592 Magic Points
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Subject: Find a Loan modification letter / hardship letter
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Mon Jan 26, 2009 7:00 am
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If you have a financial problem and are unable to make timely payments on the debt as per the terms and conditions of the loan agreement, you can send a loan modification letter to the creditor.
Sample loan modification letter / debt modification hardship letter:
Debtor's name
Debtor's Address
Creditor's name
Creditor's address
Loan account number
Sir
Sub: Loan modification request
This letter is to inform you that I have been delinquent on my mortgage payments due to some unavoidable circumstances. I have tried my best to pay back my dues on time but failed. I would request you to modify our loan agreement so that I may retain my home and avoid foreclosure. Any co-operation from your side would be greatly appreciated.
The main cause of my missed mortgage payment is (give reasons for you missed payment) and my present income does not permit me to continue the payments as per the prevailing loan agreement. However, I have full intention to pay back the entire loan amount and keep back the home with me. I am sure that this situation is temporary and I would continue with the earlier agreement as soon as I return to my earlier course of income.
Hope that you will consider my situation and help me to tide over my period of crisis.
Thanks and Regards
Debtor's name and signature
Date
For other credit related letters you can visit the link letters of credit
_________________
Keep in touch
Carol |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 4007
1224 Magic Points
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Subject: Letter requesting loan modification
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Mon Feb 23, 2009 3:02 am
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great job, I am sure that this loan modification letter will be of use to a lot of people, I love it when I need a letter and there is a good example there that I can just plug my information into. Thank you for all your work on this letter requesting loan modification.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4500
8812 Magic Points
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Subject: Loan modification letter
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Tue Feb 24, 2009 11:37 am
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| This really is a great resource letter. Many can use this loan modification letter these days. Some banks are actually stopping the foreclosure process for the time being until they see how the stimulus plan works. Here in PA PNC has stopped for the time being hoping people with mortgages can find help with the plan or some other agencies. It would be nice if others would soon follow suit and do the same thing until help is available for home owners. |
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Barbara Colbert
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Subject: Letter Requesting loan modification
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Tue Mar 24, 2009 7:06 pm
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| I would like some help on writing a modification letter. Recently I was placed on bed rest due to my pregnancy, my son was born on August 20th 2008 a month early due to complication in my pregnancy. My husband was the sole bread winner and now me and my husband are separated and my mother is helping me with my finances I don't know how long she will be able to help so I am asking for some help with lowering my interest rate. I need a loan modification letter, which would get across my problem. |
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channa
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Subject: sol letter
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Sat Aug 08, 2009 10:33 pm
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Hi there,
I took your knowledge and wrote to the creditor and atty/collection agency regarding a notice of appearance and judgment that i never received and to note, this acct is over ten years old. I never received any response from neither. I did go to the courthouse and was informed there was a judgment filed 6/09. wht is the next step? |
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sylvan
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Subject: loan modification letter/ hardship letter
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Wed Aug 12, 2009 4:27 pm
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| I need help writing a hardship letter for loan modification. |
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Guest
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Fri Oct 30, 2009 6:28 am
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Hi Channa,
I think you need to write an SOL expiry letter to the collection agency and send a copy fo the same to the court. The case should dismissed. |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1298
28935 Magic Points
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Fri Oct 30, 2009 6:37 am
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Hi Sylvan,
Richard here has produced a great loan modification letter to help people like you who are in trouble with their loan modification. Please go through the modification letter provided above and modify it to suit your demand.
Let us know if there is anything more to your situation.
_________________
All the Best 
Justin |
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Guest
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Fri Oct 30, 2009 6:58 am
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Hi Carol,
Thanks so much for providing such a wonderful loan modification letter. I am in a huge debt due to my loan that I had taken out two years back. I was planning to modify my loan and write a letter requesting loan modification, but was unable to pen down my request properly. Now that I have found this modification letter, I will send the request ASAP. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 4007
1224 Magic Points
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Fri Oct 30, 2009 10:29 am
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Guest please keep the forum updated on your progress, it is always nice to know how things work out and then maybe someone will find your same solution useful in the future.
Also, may I suggest you register on the site and participate with us, you may be able to add some valuable help to some one in the future going through some similiar circumstances as you right now. |
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gfonline
Joined: 12 Jan 2010
gfonline's page
Posts: 1
25 Magic Points
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Tue Jan 12, 2010 8:47 pm
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Here is another hardship letter from my do it yourself loan modification eBook. "www.lowcostloanmodification.com"
Attn. America's Servicing Company:
Due to recent circumstances that have arisen, we are having difficulty/no longer able to meet our monthly mortgage payments with you. In the span of 6 months, the interest rate rose to 13% (as of 7/0 making our payments a total of $4800.00, this is an increase of $1500. When we mortgaged our home in May of 2006, our monthly payment was $3250.00 which created the initial hardship.
Not only has the rate increased, but my husband was recently laid off due to a corporate decision which effected upwards of 20 individuals. We have been trying to refinance since February and now with the employment change this is impossible.
Fortunately he has been able to locate a new job with similar income stream, but we are barely scraping by.
To add to the financial burden, we have four children ranging in age from 15 months to 13 years old. Typically this would not be such an issue. However, our six year old little boy is severely disabled, we receive no medical coverage, no financial aide or government assistance due to the inability to diagnose him. Obviously, this has left us with numerous outstanding medical bills that we have had to stop paying on in order to meet our payment with you. We also have an accumulation of medical expenses from our daughter (15 months) whom spent her first 2 weeks in the NICU. (Due to an insurance mistake we received very little coverage. they are unwilling to pay, so ultimately, we are responsible.)
We are so appreciative that you will consider modifying our loan to a more feasible payment so that we do not lose our home. It is critical that we stay here due to our sons special needs.
Thank you for your time, consideration, and support regarding this matter.
Sincerely, |
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aaron kinkoff
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Subject: successful loan modification in 90 days legal based company
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Wed Mar 10, 2010 8:32 pm
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| THE MODIFICATION GROUP'S COMPANY PROFILE Negotiation Experts: Our highly dedicated employee's at TMG are experienced negotiators that will secure your home with the lowest fixed rate available. We will reposition all the late payments back into your loan bringing the account current, lower your interest rate and payment making it easier for you to afford. Our Commitment: TMG, LLC is proud to have developed beneficial relationships with lenders, inspectors, contractors, and a wide range of housing professionals. We pride ourselves on building a solid foundation for your home to rest upon. Whether you are saving your home, purchasing, selling...we ensure that you have the support you need to make sound decisions and receive the best loan possible. • Are you in a loan you cannot afford?• Are you late on your mortgage payments?• Do you think you are the victim of predatory lending?• Are you having difficulties refinancing?• Are you in an ARM loan that keeps adjusting up and up?• Are you no longer able to afford your monthly payment?• Is your mortgage set to adjust soon?• Has your home decreased in value?• Have you had a notice of default or are you close to foreclosure? WE CAN ASSIST YOU TO RESTORE YOUR FINANCIAL FREEDOM! Call in today! HERE IS MY CONTACT INFORMTION:Aaron Kinkoff 6444 Pearl Rd. Parma Heights, Oh 44130 (877) 617-4383 Ext. 1006 |
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sima potnik
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Subject: have hard time writing a lettr to loan modification we are e
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Wed Mar 10, 2010 10:32 pm
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| the message is for sima plotnik about loan modifiation |
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