Hardship letters are probably pouring in by the thousands, but you may never hear about them unless you are trying to get a short sale negotiated for your home. As hard as it is to rehash all the financial garbage you are going through, it could be extremely beneficial.
Hardship letters are a part of the approval process and the bank wants to know why you are struggling. Regardless of the blame game we play back and forth, it will still be worth your while to engage in the hardship letter if you can. Pour your heart out and allow yourself to feel the pain while you write, so that your thoughts will come out clearly when you put pen to paper.
Tell the bank everything, and if you pour out your tears as you write, chances are that they will feel what you are feeling when they read it. The hardship letters could make or break what the bank has to say to you regarding listing your home as a short sale, so don’t leave anything out.
As a Certified Distressed Property Expert, I can help. I can help you get organized, and I can help you plan organize your thoughts too. For more information on short sales and the process, please visit my website, www.inlandempireshortsaleresource.com.
-Mayer Dallal
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