One of the biggest problems many Americans live with today is the threat of foreclosure. With so many Americans losing their jobs and the economy shakier than ever the reality of losing your home is realer than ever. In this article I will highlight some of the things you may want to put in a hardship letter to your lender.
First, I suggest you call your lender the minute you feel you may have a problem paying your mortgage. You want to ask for a loan modification. It is essential you follow their requirements exactly. Many lenders require a hardship letter. Along with the letter they may want to see pay stubs, bank statements and tax returns. It is very important that yo do all of these things quickly because time is of the essence. Also while you are working with the bank make sure you keep making your payments.
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