The Short Sale Hardship Letter
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The Hardship Letter is usually part of the short sale package and is written by the seller or their representative. It is used to explain
to the lender the reasons for the borrower's need for a short sale. Reasons such as divorce, job loss, medical issues, etc. can and should
be included. Usually just a one page letter with the pertinent information will suffice.
A simple letter in the following form should suffice:
Date
Lender Name
Address
Loan Number
Dear Sir/Maam,
{In this section explain your hardship and why you must utilize a short sale - some example hardship reasons are listed below}
- Unemployment
- Reduced Income
- Divorce
- Separation
- Medical Bills
- Too Much Debt
- Death of my Spouse
- Death of a family member
- Payment Increase
- Business Failure
- Job Relocation
- Illness
- Damage to Property
- Military Service
- Incarceration
- Other (Please Specify)
Borrower’s Signature
Date
Co-Borrower’s Signature
Date
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