About Hardship Letters to Stop Foreclosure

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There is no law that requires a lender to read a hardship letter, but many want to see what the circumstances of an individual case were before considering granting leniency or refinancing. Use hardship letters to set forth the event that led to the failure to make mortgage payments with help from a civil mediator in this free video on foreclosure law.

Part of the Video Series: Foreclosure Help
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Video Transcript

You have recently fallen behind on making your mortgage payments on your house and you are starting to worry about foreclosure, but one of your neighbors told you something about writing a hardship letter to your lender and you want to know what that is all about. Hello I'm Robert Todd and I'm here to talk about how hardship letters relate to mortgage foreclosures. First of all keep in mind that there is nothing in the law generally speaking that requires a lender to even read a hardship letter much less having read it to consider it but as there are more and more foreclosures the practice procedure and experiencing is indicating that lenders want to see in writing what the particular circumstances of your case were before they even begin to consider granting leniency or refinancing. So what you want to do in this hardship letter is to set forth the particular event or circumstance that led you to get behind in the payment of your mortgage payments and point out that it was of a temporary nature such as a death of a family member or loss of your job or serious illness by a family member and that it was temporary and that you are now in a position to make the payments. I'm Robert Todd and thank you for watching.


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