Hardship Letter Sample

Due to loss of income, we are requesting that you work with us to modify our payment to between $____-$_____ a month, including taxes, insurance, etc….
Fulfillment Center
Chase/WAMUP.O. Box 469030
Glendale, CO 80246

To Whom It May Concern:

Re: Request for Loan Modification and Forbearance Reduction for property at __________

Loan Number: __________

I am writing to request that you work with us to modify our mortgage loan and reduce our forbearance plan. We have owned this home for twenty-four years and we very much want to work with you to avoid foreclosure.

I have worked at _____ for about 30 years and _____ for about _____ years. Before the downturn in the economy, I was working about _____ hours a week including overtime at _____, but as of late I’ve been working _____ hours per week or less. I was also laid off for about _____ months from _____ while they were trying to restructure. Because I was still working at _____, I was unable to collect unemployment for this time. This has been a drastic loss of income for our household. My wife works for _____ _____
months of the year, and now also got a second job at _____. However, my wife’s hours at _____ have been cut, as well. We have been struggling with our high creditcard debt, too.

Our current debt-to-income ratio is _____%, which is clearly not sustainable.

Status of payments/ Ability to pay going forward:
Because we missed _____ months of payments, we have entered into a Forbearance Agreement. This agreement took our payment from $_____ to $_____ We are still  having difficulty making this payment, and doubt our ability to go forward at the current amount.
We have carefully examined our budget and cut out all unnecessary expenditures. We make our house payment before paying anything else. I am working two jobs and trying to get as much overtime as possible. My wife has taken a second job too, and may even have the option of getting a third job, as well. We have also mapped out a plan to pay-off our credit cards, further freeing up our ability to pay our mortgage, and we have received some money from my in-laws to help pay-off some of the debt. We also turned to the
_____ Program in order to get our finances back on track. We have made paying our mortgage the highest priority and will do anything we can to keep our home.

Due to loss of income, we are requesting that you work with us to modify our payment to between $____-$_____ a month, including taxes, insurance, etc. We have meticulously reviewed our budget in order to come to this payment amount. After a much-needed reduction to our mortgage payment, we feel confident that our situation will continue to improve and that we will be able to reliably make the payments on our home. We are hard-working, responsible home-owners, and we want nothing but to keep our home.

We very much appreciate your consideration of our request. Our contact information is below. Please let us know what further information you need and we will promptly provide it.

Thank you very much for your time.


1. IRS 4506-T
2. 2 months of recent paystubs
3. Most recent tax return
4. Monthly housing & loan obligations