NEED AN EXAMPLE OF A HARDSHIP LETTER: Example of Hardship Letter #2

Due to a recent adjustment to my current mortgage I have with your company, I am finding it

very difficult to afford the new, adjusted payment. The original term of my loan was for a fixed

rate payment for three years, then adjusting every 6 months after that. This loan is scheduled to

adjust again ________.

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

up. Hopefully there is a way to renegotiate the terms of my current mortgage in order to avoid a

foreclosure of my home.

I would like to request that my adjustable rate mortgage be converted to a fixed rate mortgage.

If this can be done, then I will know exactly how much my payment will be on a permanent

basis.

I have had no problems making my payments for over three years now (or the term of the fixed

rate period) and I do not want that payment to change. My mortgage was done with another

lender and sold to your company. The original terms are terrible but it was the only loan I could

qualify for at the time. I was assured refinancing would be no problem, but that has become

impossible because of what has happened in the housing industry.

The biggest problem is that my property is now worth about ___% to ___% less than what I

paid for it, which is preventing me from refinancing. I was told about mortgage modifications

from a friend of mine and upon further research have made the decision to try it myself.

I hope this explains my current situation that I find myself in along with a large percentage of

many homeowners.

Thank You,

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