The
following is a general list of items that you will be required to provide
to us. Please begin gathering the information and submit it directly
to us when available. If you have already been assigned a REALTOR or
Negotiator you can email the documents or fax to: 813-425-9384
Hardship Letter:
This is a typed or neatly handwritten letter to the
bank that explains the situation that has caused the delinquency.
The letter should be brief and pointed, maximum of 1 page. This letter
can often make or break the bank accepting the discounted offer.
Begin by identifying how your income has changed since you took out
the mortgage. This could include: reduced rents, unemployment, reduced
pay etc. It is a good idea to mention in the letter that you are considering
filing bankruptcy because you do not know what else to do if the offer
is not accepted. State that you can not make any payments or borrow
from family and friends. Also mention that it is your intention to
sell the property & what you have done to try to sell it. Lastly
please mention any and all repairs that are necessary. Some additional
hardships might include: divorce/separation, illness, caring for a
family member, family obligations, other family expenses, medical
bills, increased insurance and or taxes.
Two Most Recent Pay Stubs For Each Borrower:
Two Most Recent Bank Statements:Including checking accounts, savings accounts, retirement accounts,
or any other cash accounts.
Two Most Recent Years Tax Returns:
List of Repairs:
If the home needs any repairs then we need to know this. This will
help us in convincing the bank to accept our discounted offer.
Financial Statement:This is a worksheet that we provide that
all borrowers need to fill out, sign, and date. Your lender wants
to see a list of all of your assets and all of your liabilities.
This helps the lender assess your current financial situation and
helps to explain why the mortgage cannot be paid. Download a blank Financial
Statement form.
Loan Information:
In order to contact your lender(s) we will need to
know who your lenders are & what your account numbers are. Giving
us your last mortgage coupon(s) works just fine for this.
Listing Agreement:
If the property was listed with another Realtor we will need the listing
agreement.
How to write a Hardship Letter
*The
information contained in this website is for informational purposes
only and is an opinion of the Author.
There are no warranties or guarantee's, implied or expressed. Consult
your Accountant and or Attorney for advice.
