Sample Hardship Letter Template (Page 4 of 4) in pdf

Sample Hardship Letter Template Page 4

Sample Hardship Letter

Page 4 of 4

__________________________________________________________________________

Date

Countrywide Mortgage

Account # XXXXXXXXX

Re: Loan Modification

To Whom It May Concern:

Due to the recent adjustment to the mortgage I currently have with your company, I am finding it very

difficult to afford the new payment. I have a 3 year fixed rate which is now adjustable and is schedule to

adjust again in Feb. 2008.

Considering my current income, there will be no way I can afford the increased payments come February.

Hopefully there is way to renegotiate the terms of my current mortgage to avoid default and help stop

foreclosure on my home.

Is it possible to have my current adjustable rate mortgage converted to a fixed rate? If this is not possible,

can you postpone the next rate change to a future date to allow me to continue making affordable

payments or refinance? Any other solutions you could provide would be greatly appreciated.

I have had no problem making my payments for over three years now and do not want that to change. My

mortgage was originally written by another company and bought by Countrywide. I was assured that

refinancing would be no problem but that turned out not to be true due to the downturn of the housing

industry.

The main problem is that my property is now worth about 5-10% less than what I paid for it which is

preventing me from being able to refinance. I was researching on the internet and came across the Fannie

Mae Announcement #06-18 (Oct. 4th 2006) regarding the servicing of Conventional Mortgage

Modifications.

I believe this addresses the situation I currently find myself in along with many other homeowners.

Thank you for your time and consideration.

Sincerely,

Borrower’s Signature

Co-Borrower’s Signature (if applicable)

________________________________________________________________________________________________

Sample Hardship Letter Template Page 4