Mortgage Forum

Joel Fraser

Here's a copy of my hardship letter to share my story. I haven't sent it to Countrywide yet, because I'm worried it might be too much information, and also that they won't do anything until I'm actually delinquent. I hate this. When I read it, I feel like an idiot, but hey! Pride goeth before the fall! Any feedback would be great. Thanks for the great templates in the tool box, by the way. HUGE help!To Whom It May Concern:I am writing this letter to explain an extraordinary set of circumstances that will cause me to become delinquent on my mortgage next month. I have done everything in my power to make ends meet but unfortunately I will fall short in August and would like you to consider working with me to modify my loan. My number one goal is to keep my home and protect my credit rating that I have worked very, very hard to build. The hardships I am struggling with are as follows:1.) When I purchased my home in 2004, I did so with my boyfriend at the time who contributed toward the mortgage payment. We had a child in 2005, but our relationship ended in early 2007, and he moved out, leaving to pay the mortgage in full alone, and without child support.2.) My mother was severely injured in an auto accident (not her fault), diagnosed with Parkinson's Disease shortly thereafter, and I was forced to reduce my work-load in order to take her in and care for her.3.) My brother was murdered three months later, and I was the only family member available to arrange his funeral and the ensuing trial for the man who murdered him.4.) Fortunately, I was able to take out a home equity loan to support the household while caring the baby, my three other children, and my mother full time. 5.) The rental income from my mother is now gone, as she has recently moved out to an assisted living situation.6.) The value of my home has decreased, leaving me without any further equity to utilize.I am now in the process of returning to work full-time, but it will take months to rebuild my client base. Even so, my mortgage in combination with the home equity loan payment is higher than what my current income can support. It is my full intention to pay what I owe, but at this time I have exhausted all of my income and resources, and am turning to you for help.As a single parent with four children, and a business dependent on maintaining it's presence in the community, it would be an extreme hardship to lose my home and be forced to move. I would appreciate it, if you can work with me to modify my loan payment so I can keep my home, rebuild my business, and afford to make amends with your firm. I truly hope that you will consider working with me and I am anxious to get this settled to avoid foreclosure. My children are counting on me to keep our home, and I will do everything in my power to remain in the home we have all worked so hard to care for.Sincerely and Respectfully,Ms. ___________________Signature_____________________L oan # ______________________Address_____________________ _Phone________________________