Writing a deed in lieu hardship letter

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Writing a deed in lieu hardship letter

A reset of the adjustable interest rate A natural disaster What to Include in a Hardship Letter for Deed in Lieu of Foreclosure A lot of people write their hardship letter without really thinking about what to include in it. Worse still, some people simply copy an online template word for word.

writing a deed in lieu hardship letter

Remember that there are hundreds of people writing these letters on a daily basis, so you need to write something that stands out. Templates should only be used as a guide. Rather, you need to focus on providing information that is pertinent and personal to you and your situation.

The lender wants to hear the facts, and you should try to present those facts on a single page. A hardship letter is designed to explain why you are in a certain situation and that you would be able to avoid foreclosure with their help.

You must make your wishes clear, such as receiving the deed in lieu of foreclosure, before you move into an explanation of your hardship. This ensures that a mortgage expert reads the rest with the understanding of where you are going.

Make sure, as well, that your letter makes it clear that you are not trying to shirk from your financial obligations. Rather, you should state that you want to make certain payments until you have been able to rectify your situation.

Be realistic in this and do not make promises that you are not sure you will be able to keep. Nobody wants to be in a situation of hardship.

Your lender understands that and taking foreclosure action is something that they will want to avoid as much as you do. Hence, if you are honest, present them with facts, and show you are willing to work at the situation, you might be able to get some leniency and receive a deed in lieu of foreclosure arrangement.A judgment is simply the official decision of a court at the completion of a lawsuit.

writing a deed in lieu hardship letter

It merely indicates that the court has resolved the issues brought before it in a lawsuit in . A: You could find out who currently owns the mineral rights under the property by searching the land records at the county clerk's office, or online.

In lieu of that you could contact a local abstract office and have them do the search for you. The county clerk's records . 3 sample hardship letters included in this booklet. One for loan modification based on an interest rate reset, on for a deed in lieu of foreclosure due to divorce, and a third asking for a 4/4(1).

The Keep Your Home California program is closed because all of the Hardest Hit Funds that were provided to the State of California to prevent foreclosures (over $2 billion dollars) have been provided to approved homeowners or committed to qualified homeowners in process.

Part of the loss mitigation package is the financial hardship letter (or “letter of hardship”). You must complete a loss mitigation packet if you want to be considered for a loss mitigation option, whether modification, short sale, or deed-in-lieu of foreclosure.

The Keep Your Home California program is closed because all of the Hardest Hit Funds that were provided to the State of California to prevent foreclosures (over $2 billion dollars) have been provided to approved homeowners or committed to qualified homeowners in process.

Deed in Lieu of Foreclosure for Timeshare