The borrower should keep a copy of the letter as well as the receipt that proves the lender received it. The letter should be succinct and not more than one page. Since it is a formal document and will become part of the borrower’s and lender’s permanent file, it should be written in formal business style and sent by certified mail. Below are samples of a hardship letter. While this letter will include personal matters that may be complicated, it is important that you keep it short, concise, and clear. Some of these reasons may include the death of a co-borrower, loss of job or reduced income, divorce, incarceration, a relocation due to a job, medical bills, and others that affect your ability to pay. It is meant to describe the circumstances behind your failure to pay your mortgage and to give the lender an idea of how long these circumstances will affect your ability to repay the loan.Ī Hardship Letter should be formal, but should also include personal reasons for why you have been unable to make your payments on time. This is a personal letter written by you to your lender.
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