What Is A Mortgage Loan Hardship?

Here is a list of hardship examples that lenders consider during the loan modification process:

Illness
Loss of Job
Reduced Income
Failed Business
Medical Bills
New Baby
Increased Expenses
Job Relocation
Death of Spouse or Co-Borrower
Divorce
Marital Separation
Military Duty
Incarceration
Damage to Property (natural disaster)
Loss of Equity in your home
Others… such as Bad Economy (Please Specify)
Any Combination of the above examples.

One of the items your lender or servicer will ask for during the loan workout or loan modification process is a Hardship Letter. A Hardship Letter is a written explanation as to what “event” has caused you to have a hardship and/or fall behind on your mortgage and it is vital in helping you modify your loan.

The Hardship Letter acts much like an outline or biography of your current “life” issues that are affecting your ability to meet your financial obligations.

MKL and its Partners will review your Hardship Letter with you, so you are not alone in this process.

Start the process for your Loan Modification today and find out if you qualify...click here.

WE REMAIN IN CONTACT WITH YOU THROUGH OUT THE PROCESS. YOU ARE FREE TO CALL US ANYTIME.