03 August 2011 ~ 1 Comment

What to Include in Your Hardship Letter Package

Step 1 - Check Your FREE credit score
Step 2 - Create your hardship letter
Step 3 - Apply for loan modification

Because each lender is an individual business, the company policies will be different. This means that each company will have its own requirements for itemizing a hardship package. However, every company requires these minimum

items:

1) The Hardship Letter

2) Workout Proposal: This is necessary if the plan is not described in your hardship letter.

3) Financial Statement: (Some lenders will have the forms on their websites)

4) Required Documents by Lender: (All lenders will request basic documents, but make sure to find out any extra ones a particular lender may need)

a) Tax Returns: Recent and back as many years as the lender requires.

b) Pay stubs from all employment: Current ones.

c) Home agreements and documents if proposing a short salew.hardshiplettersample.com

d) Appraisal or Recent Broker’s Estimate (You don’t need to get an appraisal until the lender asks)

e) Specific Documentation:

  • A letter from a new employer
  • Bank account of money you are willing to put toward the offer

One Response to “What to Include in Your Hardship Letter Package”

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