A hardship letter is addressed to the lender or the mortgage company by the borrower once he / she has missed some of the payments. This letter serves as the basis or your communication & future negotiations with the lender or the mortgage company. The borrower aims to explain his / her current position with this letter. It is a must that this letter is presented in the best & most effective way possible in order to strike up the best deal with the lender.

Tips To Write Financial Hardship Letter

Here are some tips that would help you write an effective financial hardship letter.

· The letter must be written in a formal manner.

· The letter should be mailed by some certified mail service. Also check that you have the receipt of receiving of this letter.

· The hardship letter has to be very neat and concise. In case your hand writing is bad, prefer to get the letter typed.

· The letter must comprise of the borrower’s loan number along with the preferred option like short sale or loan modification, the borrower’s name, borrower’s address, borrower’s phone numbers and the borrower’s email address.

· Financially it comprises of the borrower’s current monthly income, monthly expenditure and the reason of the financial crisis.

· This letter must be written quite in time in order to avoid a foreclosure.