Hardship Letter- A tool to help you, the homeowner, get a loan modification. The letter should be written for the bank’s loss mitigator and explain why you are in financial trouble and what your plan of action is to solve it. The letter should be as specific as possible and include any specific dates (such as when the trouble started and when you e [..]

A letter submitted to a lender (as part of a short-sale package) indicating the precise reasons why the borrower can no longer afford to make mortgage payments.