The lender will be taking a loss on the property so the hardship letter should be strong enough to prove that the hardship is legitimate. The letter should convince the lender that a short sale is the best decision for both the homeowner and lender.
The lender will weigh out the options between a short sale and a foreclosure. Short sales are more successful when the home is indeed underwater and that a hardship is being experienced by the homeowners.
The hardship letter should:
1 -State the situation that has caused you to fall behind on your mortgage
2 -Explain what you are trying to do to get out of the hardship
3 -Do not complain about what is going on
4 -Be honest and state the facts
We are the short sale experts in Dallas area and you can contact us directly if you have any questions related to short sale hardship letter or the process. 972-342-0011