If ever a homeowner is trying to obtain either a loan modification or a short sale from a bank, he, or she will be asked to prove that there is a hardship, which makes paying the existing loan at its existing terms impossible. One of the primary pieces of information the bank will need to ascertain this is the Hardship Letter.
Although it might seem self explanatory, I have seen some pretty wild letters come by my desk, as well as countless questions about how to write one of these. Indeed, there are some things that really need to be in there. So, here is a little guide to helping you write a Hardship Letter if ever you need one.