Sample Hardship Letter from a Debtor to a Loan Mitigation Specialist Requesting Forbearance (Postponement) of Loan Payments
Dear Ms./Mr. [Last name],
We are writing this letter in support of our application for a forbearance plan, which will help us keep our home of 23 years.
We were forced to apply for a forbearance plan because we find ourselves unable to afford the full mortgage payments.
Like thousands of other Americans, my husband and I now find ourselves unemployed. My husband has been a carpenter all his life. My job was outsourced and I don't expect to be hired anytime soon because of the recession.
We are also the caregivers to my 54-year-old brother who became a quadriplegic after a road accident last summer. He lives with us.
We sold the car. Circumstances even forced us to sell what little jewelry we had. Despite making drastic spending cuts, we still find ourselves barely able to make ends meet.
We have worked hard all our lives. Neither of us really inherited anything more than love, dignity and a good work ethic from our respective families. We believed in the American way of life and we still do.
Quite frankly, we find it embarrassing to have to apply for a forbearance plan. But we admit we have no choice.
We fully intend to make the mortgage payments but can unfortunately now pay no more than $700 a month. My husband and I now do odd jobs around the neighborhood and can afford no more.
We hope the attached information about our financial profile at the time of writing this letter will help in convincing you to approve our forbearance plan application.
Do get in touch with us if you have any questions or need more information to process our application.