Write a Short Sale Letter
A short sale letter is also referred to as a hardship letter and is a required document in a short sale package. Short sale letters/ hardship letters are an open and notorious notice to your lender of your inability to continue to make your mortgage payments.
Instructions
Key Concepts
1. When you write your short sale letter, keep it clear, legible, sincere and above all else be honest.
2. Clearly state that the hardship you are experiencing ( divorce, death, loss of job, loss of hours, etc.) is not a temporary situation that can be overcome.
3. Make mention of all other attempts to rectify the issue, including loan modification, forbearance plan or temp work. It is important to use words and phrases in your letter such as "unable to," "tried to," "can't," "need relief" and "the next step is bankruptcy."
4. After you have written your short sale letter, ensure that all borrowers sign and date the letter. Make a copy of it and send it to your Realtor, if you are working with one, or send it directly into your lenders loss mitigation department.
