Sample Hardship Letter

Every short sale must be submitted with a hardship letter.
Here are some points to highlight on the letter:
1. Always have the home owner sign and date the letter
2. Never refer to yourself as an investor, use the words " buyer" .
3. Make the letter a personal, emotional letter. You almost want someone to cry after reading it.
4. I prefer that the homeowner hand write the letter however, if their writing sucks, typing the letter is a great alternative.

Sample Letter

John Doe
12345 Lakeside Dr
San Antonio, TX 78000
December 25, 2008

HSBC Mortgage Services
P.O. BOX 60139
City of Industry, CA 91716

Dear Sir or Madam,

I am writing this letter to explain my current financial and life situation in which I am in currently. It is rather embarrassing, frustrating and at times completely hopeless. I hope you can help me.
Recently, I ( John Doe) was approached by my employer to accept less hours at work starting in January, 2009 and this has really put the pressure on me. Also, I let a friend of mine use my name to get the mortgage for the property on 12345 Lakeside because he is , or was now, a close friend. Now, he’s missed a few payments and I simply cannot afford to pay this from my current earnings.
Also, I own six duplexes located on 12345 Backside St. I’ve been having many problems with renters not paying rent and I’ve had to do a loan modification on that property. I’m also one month behind because of renters not playing rent. One of my renters recently moved out and didn’t even tell me. When I went to go see the unit he was living in, I found out that he totally trashed that place. I had to spend the remaining money of what I had to try and fix this. I did a lot of the work myself however this put me back financially big time. The financial stress has really put my relationship with my wife at a cross roads right now. We are currently not very happy and may end up filing for divorce.
With my duplexes not rented, my income has basically decreased by over $2000 / month and with the advent of my hours being cut at work, I will have a very hard time making subsequent payments. My friend really screwed me on this deal. I let him use my name and now I can’t even find him. I went to go talk to his parents and they don’t even know where he is.
Currently, our credit cards are over leveraged and we are having a hard time making ends meet. Sometimes, just the day to day expenses are tough to pay. Given the current situation, my wife and I are possibly thinking about filing bankruptcy. I think this may help our situation, however, we are not sure yet. We are still seeking legal advice.
As a last resort, I am trying to sell this house to get out of this situation. We tried selling it on our own for many months now however no one wants to buy this property because it needs about $18,000 worth of work according to one of the buyers. I also had one of my friends, who is a contractor, look at the property and he says it might need even more work than that. I now realize that I owe more on this property than it’s worth.
Finally, I please ask that you accept this offer from this buyer because we really need to get out of an ugly situation that will get even worse given the fact that my hours at work will be cut in 2009 and that I have had a hard time getting renters in my property. Please, I pray to God that you will have a soft spot in your heart to help me out. This might actually end up saving my marriage.
Right now, this is not the ideal lifestyle or situation for me. My credit is at an all time low. My morale is shattered. I basically have no savings and am living paycheck to paycheck. As I mentioned before, there’s a lot of mental stress building up right now and sometimes I do not know what to do. I have even had suicidal thoughts, however, I know I have to be strong and keep moving forward knowing that a miracle will come soon. With this happening and with all the hardships I am facing, I ask that you please consider my situation.
Your consideration is greatly appreciated.
Sincerely,

Signature Goes Here

John Doe

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