Welcome to United Financial Freedom!

Not an "official" company website, this is the blog for Sr. Exec. Director and Independent Associate, Sue Copening. We hope this blog will guide you in our UNITED mission to eliminate debt, create income opportunity and to build wealth and FINANCIAL FREEDOM for America! You'll find tips here to help you maximize income with the Money MAX Account, pay off debt rapidly (or help your clients do so), and build wealth. If you have found this site because you were referred by someone, get back to them to get started. Otherwise, reach out to me at: 407-443-0348 or WealthBuilderGPS@gmail.com

Wednesday, December 12, 2012

"Less is More" when Writing a Hardship Letter to your Lender

HOMEOWNERS having trouble paying their mortgages may try to elicit sympathy from their lenders in long, emotional letters laden with woe.
Real Estate Twitter Logo.

Connect With Us on Twitter

For news and features on real estate, follow@nytrealestate.
“As though the institution you’re applying to has a heart,” observed Kelly Snitkin, a former housing counselor whose Manhattan law practice specializes in real estate. “It does not.”
Still, lenders do look for what is known as a hardship letter when a borrower applies for a loan modification. Such a letter is a requirement for modification applications under the government’s Making Home Affordable program.
A hardship letter is not the basis for modification approval — that depends on the borrower’s financials and the intricacies of the various government and in-house lender programs. Rather, the purpose of the hardship letter is to...
Read more here... http://www.nytimes.com

No comments:

Post a Comment