One
of the questions I get
asked by sellers who are in trouble is how do I write a good hardship
letter so
the bank will accept their short sale or their loan modification? But,
is there
really a key to success when it comes to the hardship letter?
In my opinion… YES!
The key to the hardship letter is to explain exactly what got you in this hardship. Was it a job loss, divorce, or maybe a death in the family? What ever the reason, make sure you put that in your letter and explain to the bank that without that hardship, you wouldn’t be in the situation you are in.
Don’t
make it too long. Just like anything else, if the letter is too long,
they will just not read it. All the bank is looking for is
the facts
and maybe
how they can help. (What are you looking for from them?)
Make
sure the letter is truthful in every way, because if it
isn’t, the
bank
will deny you! They will check your banks statements and taxes and if
they see
you claim a job loss and you are still getting checks every week, they
will
know. (THAT IS THEIR JOB!)
Now, that this has been done, this is where your agent takes over and negotiates with your bank on your behalf and makes sure that what ever your goal is, that goal is reached.
If you are in a situation that you need to do a loan modification, or have to sell your home, please give me a call. I would love to help and maybe together we can get you back on the track that you were on before your hardship.
Todd Clark - Broker / Sales Coach
Palazzo Realty Group
Phone: (503)524-9494
Fax: (503)622-8739
©2009 Todd Clark - Looking to do a short sale or a loan modification? The hardship letter is the key to success! (Along with tenacity from your agent)
Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)746-9573
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
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