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hardship letter to my mortgage lender?
I puchased my first home in the end of september. So far I have only been able to make one payment. My payment amount is roughly $1200/month. I live in a condo and my association fees are $258. I know this sounds steep but the association fees covers all of my utlities (other than my electric) I have 3 credit cards that are maxed. I own my car so luckily I have no car payment. However in the past month I have shelled out nearly $1K for repairs/maintance The company I work for just told us we are not getting our anual raises this January, I need to write a letter explaining my harship. I have looked online for samples and all of the samples seem to deal with people who have lost their job, a death of their spouce or something really serious. on the other hand, just had a few unlucky months of poor money management. What can I say or put in the letter? Can someone help me please? I sincerly appreciate any and all help. I on the other hand, just had a few unlucky mont My cards were maxed so I could survive. I used them for groceries, gas (which is not cheap these days) electric bills, and for my costly car repairs My goal is to make my back payments, stay current and keep my home. I am a first time homebuyer and this is all a littel overwhelming for me.
Public Comments
- As sad as your story is the mortgage Company hears them everyday. They don't care! Thats there job! They hope that you don't make your payment, that is how they make there money, your lose is there gain! There is no letter you can send, no sad story to tell. On the other hand, depending on what state you live in, you have a certain amount of time before a company can take action against you. The best thing to do is forget the letter and borrow the money to pay your loan and then try to find somewhere else to live and let some one else take over your mortgage that can afford it, before you ruin your credit totally! Good Luck.
- The lender doesn't want to repossess your condo. Real estte is really dropping all over the country. Just explain the facts. Let the lender know that you will be able to make your other payments on time. The worst thing that you could do is to not contact the lender and just miss the payment. Good luck.
