A Hardship Letter for Short Sale Due to Divorce is a formal request to your lender, explaining why you need to sell your property for less than its value. It details how your divorce has created financial difficulties, making it challenging to keep up with mortgage payments. The letter aims to provide a clear reason for your request and seek approval for the short sale.
In this article, we will provide various templates and examples of a Hardship Letter for Short Sale Due to Divorce. These samples are designed to help you craft a compelling and well-structured letter, making it easier for you to communicate your situation to your lender.
Our goal is to simplify the process of writing this important letter. Use these examples to guide you in presenting your case effectively and obtaining the necessary approval for your short sale.
Sample of a Hardship Letter for Short Sale Due to Divorce
[Your Name]
[Your Address]
[City, State, ZIP Code]
[Email Address]
[Phone Number]
[Date]
[Recipient’s Name]
[Recipient’s Title]
[Bank or Lender’s Name]
[Bank or Lender’s Address]
[City, State, ZIP Code]
Subject: Request for Short Sale Due to Divorce
Dear [Recipient’s Name],
I am writing to request your approval for a short sale of my property located at [Property Address]. Due to recent personal circumstances, specifically a divorce, I am facing significant financial hardship that makes it impossible to continue with my current mortgage payments.
The divorce has resulted in substantial financial strain, including the division of assets and a decrease in household income. Despite my efforts to manage the mortgage, the current situation has left me unable to afford the payments and maintain the property.
I am seeking approval for a short sale as a solution to address this financial challenge. Enclosed are relevant documents, including the divorce decree and financial statements, to support my request. I hope to work with you to reach an agreeable resolution.
Thank you for your consideration of my request. Please let me know if you require any additional information or documentation.
Sincerely,
[Your Name]
How to Write a Hardship Letter for Short Sale Due to Divorce
Understand the Purpose of the Letter
A Hardship Letter for Short Sale Due to Divorce explains why you are unable to continue making mortgage payments and request approval for a short sale. The purpose is to provide your lender with a clear reason for your financial difficulties and seek their consent to sell the property for less than its outstanding balance.
Collect Relevant Documentation
Before writing your letter, gather all necessary documents. This includes the divorce decree, financial statements, and any other relevant paperwork that illustrates your financial situation. Having this documentation ready strengthens your request and provides a clear picture of your circumstances.
Format the Letter Professionally
Use a professional format for your letter. Start with your contact information and the date, followed by the recipient’s details. Include a clear subject line and use a formal tone throughout. A well-organized letter helps convey your seriousness and facilitates a smoother review process.
Write a Clear Introduction
Begin with a straightforward introduction stating the purpose of your letter. Mention that you are requesting approval for a short sale due to financial hardship caused by a divorce. A clear introduction sets the context for the details that follow.
Detail the Impact of the Divorce
In the main body of the letter, explain how the divorce has affected your financial situation. Provide specific details, such as changes in income, division of assets, and any additional financial burdens. Clearly outline how these factors have made it challenging to maintain your mortgage payments.
Request Specific Action
Clearly state what you are asking for in your letter. Specify that you are seeking approval for a short sale and explain why this is the most viable option for your situation. A direct request helps the lender understand your needs and take appropriate action.
Conclude with a Professional Closing
End your letter with a polite and professional closing. Reiterate your appreciation for their consideration and provide your contact information for any follow-up. A respectful conclusion reinforces your request and maintains a professional tone.
By following these steps, you can create an effective Hardship Letter for Short Sale Due to Divorce that clearly communicates your situation and facilitates a resolution with your lender.
Frequently Asked Questions (FAQs) about a Hardship Letter for Short Sale Due to Divorce
When preparing a Hardship Letter for a Short Sale Due to Divorce, several common questions arise. Here are five frequently asked questions to guide you through the process:
What information should be included in a Hardship Letter for Short Sale Due to Divorce?
Include details about your divorce and how it has impacted your financial situation. Provide information on how the divorce has affected your ability to make mortgage payments. Attach supporting documents, such as the divorce decree and financial statements, to substantiate your claim.
How should I begin the letter?
Start with a clear and direct introduction stating the purpose of the letter. Mention that you are requesting approval for a short sale due to financial hardship resulting from your divorce. This sets the stage for the detailed explanation that follows.
What tone should I use in the letter?
Maintain a professional and formal tone throughout the letter. While it is important to convey the seriousness of your situation, avoid emotional language and focus on presenting factual information. A respectful tone helps ensure your request is taken seriously.
How detailed should I be about the divorce’s impact?
Provide sufficient detail to explain how the divorce has led to financial difficulties, including changes in income and additional expenses. However, avoid oversharing personal or sensitive details that are not directly relevant to the financial impact.
What specific actions should I request from the lender?
Clearly state that you are requesting approval for a short sale and explain why it is necessary given your financial situation. Be specific about your request and include any additional details that might help your lender understand and process your request efficiently.
Related:
Letter to Terminate Lawyer Service – A template for ending legal representation.
Letter to Withdraw Petition for Immigration – Sample letter for retracting an immigration petition.
Notice of Default Letter to Tenant – Template for notifying a tenant of default on lease terms.
Offer Letter Email to Candidate – A sample email offering a job position to a candidate.
Property Management Termination Letter to Owner – Template for terminating property management services.
Property Manager Introduction Letter to Tenants – Sample letter introducing a new property manager to tenants.
Real Estate Agent Letter to Seller – Template for a real estate agent’s communication with a seller.