How to write a great short sale hardship letter
When it comes to great short sale hardship letters, less is more. What do we mean by that?
A good hardship letter is a factual account of your financial hardship which serves as a reason you defaulted on your mortgage obligations or soon will. It does not have to be anything else.
Although it is understandable that there are many events that contribute to the overall situation, it is best to keep everything as simple and as straightforward as possible.
As local short sale experts, specializing in providing answers to the question “how to short sale my home?”, we often come across long and convoluted hardship letters that touch on many points unrelated to our potential clients’ financial situation.
Most hardship letters we see should be made shorter, not longer.
Continue reading to learn more about what makes a great short sale hardship letter and contact us today for help with writing yours.
Keeping a hardship letter short does not mean that your hardship letter can be one line: “I would like to do a short sale.” The negotiator at your lender will want to know why you’re actually pursuing a short sale which is more of a privilege than a right. As long as you present the facts and how they relate to your financial situation, you should be OK. Please keep in mind that you will be asked to provide supporting documents for the facts you present.
Providing too much information in a hardship letter, especially the type that does not have any relationship to the overall financial situation, can be costly as it often brings up new questions rather than answer existing ones.
Although every situation surrounding a short sale is different, the importance of a well written hardship letter is great. When writing one, please keep it brief, simple, and factual and always show the circumstances of your financial hardship.
Whatever you do, do not overlook the importance of writing a proper short sale hardship letter.
If you have any questions about, or need assistance with writing, a good hard ship letter for your short sale, contact us today for a free, no obligation consultation.
As short sale specialists in Maryland we have helped many homeowners in distressed successfully complete the short sale process.