Short Sale – Financial Hardship

[Home Owner Name(s)]


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

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

Dear [Lender Name]:

I/We have been experiencing a change in my/our financial situation since [insert month & year when difficulties began].  This hardship is due to [brief explanation of hardship].

While I/we anticipated making all the payments as scheduled, I/we have carefully analyzed our current financial situation and realize we are no longer able to comply with the terms of our loan.  I/We have no choice but ask you for your help to avoid foreclosure of my family’s home.

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

I/We request you consider allowing our home into your Short Sale Program so that the house can be sold before it goes into foreclosure. This will allow me to settle my financial obligation to you and have a chance to get back on my feet, without having to file bankruptcy or either of us having to go through the foreclosure process unnecessarily.

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 our financial hardship.  I/We have included bank statements, 2010 tax return [all pages], last two pay stubs, [include other documentation supporting financial hardship such as notice of termination, medical bills, late notices on vehicle,….] [if self employed, include current P&L]

Your consideration of this matter is greatly appreciated.  I/We deeply appreciate your help in this matter. If you have any questions, or need anything further documentation or information, you can contact me/us at [phone # include the area code].

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




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