New Jersey will need at least until the end of 2013 to work through it’s backlog of foreclosures. The next wave of foreclosures was about to replenish real estate inventory when Hurricane Sandy stopped it in its tracks. While reports like the latest from RealtyTrac show a 15 percent decline in New Jersey foreclosure activity, …
Category Archive
for: ‘Reasons’
792,602: The Number of Wells Fargo Loan Modifications This Summer
Yes, as of July 2012, Wells Fargo had 792,602 active, or completed mortgage modifications, 84 percent of which were done through Wells Fargo’s own programs. The remaining 12 percent were done through the Home Affordable Modification Program (HAMP). As the United States’ leading mortgage lender, Wells Fargo services one out of ever six mortgage loans …
Due to illness, you’re behind on the mortgage
If you’re missing payments due to illness, use one of our sample hardship letters to explain to your lender. An illness can do more than rob you of your health. It can keep you from working, drain your bank account, and bury you under medical bills. Loss of income and high debt due to illness …
Expenses – you have a valid hardship if you can’t keep up
Sample Hardship Letter Due to Excess Expenses It isn’t unusual for a sudden increase in expenses to overwhelm your income. All it takes is a new baby, family members who need help, unexpected funeral expenses – the list is long. If your income can’t keep pace with your expenses, you have a valid hardship. Click …
Divorce – a valid financial hardship
If you are missing mortgage payments because of divorce, use our sample hardship letters to negotiate with your lender. Separating from your spouse can be overwhelming and upsetting, not the least because the spouse who retains the home is often unable to pay the mortgage that was easily afforded on two incomes. The financial upheaval …
Employment – losing your job and income is a valid hardship
Use our sample hardship letter collection to request help from your lender when you can’t find employment. If you or your spouse has had trouble with employment, such as not being able to find a job, being let go, or being forced to take a lower-paying job, you have a valid hardship. Click the image …
Bankruptcy – having your assets frozen is a valid hardship
We have sample hardship letters that can help you if you’re in bankruptcy. If you are going through bankruptcy, the court may have frozen your assets, making it impossible to pay any creditor, including your mortgage lender. This is a valid hardship. Click the image below to find out more about the hardship letter collection …
Medical issues – income loss and debt are valid hardships
If your medical bills are out of control, use one of our sample hardship letters to negotiate with your creditors. Illness, hospitalization, or a disabling medical condition can have a devastating effect on your finances, wiping out your savings and preventing you from working. Income loss due to illness and medical debt are both valid …
Due to divorce, no cash for the mortgage – a valid hardship!
When you need to negotiate with creditors due to divorce, use one of our sample hardship letters. Divorce often results in a drastic reduction in income, not to mention increased debt due to attorneys’ fees. If you are having financial difficulties due to divorce, you have a valid hardship. Click the image below to find …
Income – reduced or lost income is a valid hardship
If your income has either been reduced or lost, you have a valid hardship and can write a strong hardship letter. Our hardship letter collection has many great examples of reduced and lost income as the main reason for the hardship. Check it out to get good ideas about how to word your situation well. …
