Posted on 25 March 2009. Tags: Debt Management, debt management expert, hardship letter, hardship letter for loan modification, Loan Modification, NOD
Here is a specific example of a hardship letter you could use for a loan modification if you fall behind in your payments. For a little more detail on putting a hardship letter together see: Tips on How to Write a Hardship Letter for a Loan Modification or Short Sale
A hardship letter is a letter written to your bank or mortgage company telling them why you can no longer afford to make the payments on your home. This letter describes your hardships and specifically what has happened that caused you to fall behind.
Based on the current credit environment, hardship letters are being used as a tool to help homeowners avoid foreclosure on their homes. The result can be a modification of the loan or the acceptance of a real-estate short sale by the bank.
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Posted in Hardship Letters, Loan Modification, Tips & Tools for a Loan Modification
Posted on 16 March 2009. Tags: credit, Debt Management, debt management expert, Foreclosure, hardship letter for loan modification, Loan Modification, mortgage, NOD, Notice of Default, Short Sale
If you are behind in your mortgage payments, it is likely you have received a Notice of Default (NOD) from your lender. A NOD is a public notice to you, as well as the world, that you have defaulted on your mortgage and the lender intends to take foreclosure action if you do not pay by the regulated redemption period. What should you do if you receive a NOD?
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Posted in Foreclosure, Hardship Letters
Posted on 16 March 2009. Tags: Debt Management, debt management expert, Foreclosure, hardship letter, loan, Loan Modification, mortgage, mortgage modification, Notice of Default, Short Sale
If you are having trouble keeping up with your mortgage payments and find yourself needing foreclosure help, you are not alone. Millions of homeowners have lost their homes due to foreclosure over the last few years. In 2008 alone, over three million foreclosures occurred in the United States. If you are in foreclosure now, what should you expect and how can you manage this stressful situation?
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Posted in Foreclosure, Hardship Letters
Posted on 11 March 2009. Tags: Bank, Banking Services, Child support, Debt Management, Financial Services, Foreclosure, hardship letter, Letter, loan, Loan Modification, Loan Modification Tips, mortgage, Short Sale, Single parent
A hardship letter is a letter written to your bank or mortgage company telling them why you can no longer afford to make the payments on your home. This letter describes your hardships and specifically what has happened that caused you to fall behind.
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Posted in Foreclosure, Hardship Letters, Tips & Tools for a Loan Modification