Short Sale Hardship – Divorce


[Home Owner Name]

[Lender Name]
[Lender Address]
[Lender’s fax number]

RE: Loan # [loan number] Short Sale Hardship Letter

Dear [Lender Name]:

I have experienced a negative change in the household income since [insert month & year when difficulties began].  This hardship is due to [divorce, loss of a/the income owner…. a brief explanation of hardship].

While I anticipated making all the payments as scheduled, with the divorce it is clear I cannot afford any future payments.  I have exhausted my resources and realize I do not have the means to pay for this house.  I have no choice but ask you for your help to avoid foreclosure of my family home.

Due to the dropping of home prices that have affected the entire country and specifically [insert city, I currently owe more on my mortgage than my home is actually worth.

I request you consider allowing this property into your Short Sale Program so that the house can be sold and prevent foreclosure. This will allow me to settle my financial obligation to you and give me a chance to get back on my feet. With a short sale I may be able to avoid bankruptcy and neither of us will have the pain or expense of a unnecessary foreclosure.

I have been in contact with a qualified short sell specialist to list my home.  (S)he has provided a Comparative Market Analysis to best determine a reasonable selling price.  Based on that analysis of current market pricing, our broker is recommending a listing price of $xxx.  A copy of the CMA is included in this package.

Enclosed please find documentation of my financial hardship.  I have included current bank statements, 20XX -20XX tax returns [all pages], last two pay stubs [if working], [include all the documentation supporting financial hardship such as notice of termination, medical bills, late notices on vehicle,…that your lender has requested] [if self employed include current P&L]

Your consideration of this matter is greatly appreciated.  I deeply appreciate your help in this matter. If you have any questions, or need anything further documentation or information, you can contact me at [###-###-####].

I, [type your name], state that the information provided above is true and correct to the best of my/our knowledge.




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