Sample Of An Internal Memo
They will not offer you a short sale without talking with them. This is a rare thing if this happens. There are many different kinds of hardship letters including creditor and foreclosure letters. Any type of hardship letter will give you the chance to tell your side of why your situation has happened and why you have begun to default on your loan. This letter is to be used to convince your financial institution to let you pay less than your regular monthly payment. When writing your letter you need to remember that there is an actual person on the other end that will be reading it.
Keep in mind that the loan modification is your last chance to saving your home. Do not forget to be courteous and to sincerely thank in advance your lender for considering your situation. One of the mistakes many business and professional people make has to do with writing letters about financial matters. Such letters are too often classed as "routine" and are assigned to employees on the lower rungs. However many of these letters can have substantial impact on your business and should be written with care. Financial matters includes correspondence with stockholders evaluating the financial health of a business applying for loans price increases monetary transactions royalties contracts bad risks franchise operations accounting joint ventures and much more.
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2. Make a checklist of all points that have to be covered to achieve this objective. 3. Make are certain all data and figures are correct - do not just assume that they are. 4. State the purpose clearly in a first draft. 5. If the subject has been discussed orally with the addressee make sure you have not said one thing and now presenting different picture. 6. Create an attitude of cooperation or understanding. 7. State clearly what you expect from the recipient. Financial letters are in a class by themselves in a number of ways. Unlike general letters you may write to customers clients sales personnel the media or government officials they are likely to be addressed to people who have specific areas of operation and responsibility.
Although you should write a brief letter you should still be able to detail your financial information and other related factors. This is so the person reading your letter can easily grasp your situation. Including your financial documents with your hardship letter is also advised so that you can have sufficient basis for your claims of hardship. Examples of these documents are cash flow statements bank statements income tax statements invoices etc. 5. Clearly identify your request. In the first paragraph of your hardship letter or in the subject line specify your appeal. Make sure that you also reiterate your request all throughout the letter so that you don t lose tract of your letter s primary purpose. 6. Be modest and grateful. You have to remember that you are writing a financial hardship letter and that you are in need of their assistance. You have to be humble enough to admit that you are having financial difficulties and that you would greatly appreciate their help. Keep in mind that the loan modification is your last chance to saving your home. Do not forget to be courteous and to sincerely thank in advance your lender for considering your situation.