We want to keep our home and fully intend to pay the mortgage, but we would like to renegotiate the terms of the home loan to avoid foreclosure and hope that you can help make this possible. My wife has gotten a part-time job, and we would be able to continue making payments if they were smaller. The financial situation of my family has deteriorated to the point where it has become difficult to maintain living expenses.
Re: Restructuring of Mortgage Loan - Loan Numberĭue to recent, serious changes in my health, I have lost income, which is the reason I am behind in making my mortgage payments. I hope we can meet soon to agree on the terms of a loan modification. I can be reached at Phone Number or at Email Address if you have any further questions. I apologize for getting behind in my payments, but, as you can see, it was out of my control. She currently has two possible job offers, and will know the results next month.
I fully intend to pay my debt, but need some help until my wife finds another job and our financial situation stabilizes again. I would appreciate it if we could work together to find a way to normalize my mortgage payments. I request that the monthly payments be reduced and the delinquent payments be forgiven or recapitalized, so I can catch up and prevent delinquency in the future. I sincerely want to keep my home and make regular payments, but, at this time, require some restructuring in the terms of the loan. I have fallen behind in payments for the last three months because my wife, Name of Wife, lost her job, which reduced our total income by half. This letter is a formal request for restructuring of my mortgage. The borrower should keep a copy of the letter as well as the receipt that proves the lender received it. The letter should be succinct and not more than one page. Since it is a formal document and will become part of the borrower’s and lender’s permanent file, it should be written in formal business style and sent by certified mail. The letter should be honest and not put the blame on someone else for the difficulty.īelow are sample loan restructuring request letters.
The letter should clearly state the facts of the hardship and not exaggerate it. First, the letter should not give a long and detailed narration of the hardship. There are a few things that should not be included in a request letter for loan restructuring. Personal letters are more likely to be viewed as genuine and not from a template. If the letter is being written by a loan modification consultant such as an attorney, mortgage broker or realtor, it should be written in the first person voice for the borrower, and the borrower should sign the letter.
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