- 1). State the reason for your letter at the beginning of the document. Tell the person who is reading the letter that you are writing to obtain a loan modification. Thank the person for their time in reading the letter and then you can get into the body of the letter. Try to be direct and polite at the same time.
- 2). Tell the lender about the specific reasons why you are unable to fulfill your mortgage obligation as it stands. This is the part of the letter where you tell the lender about your financial problems that have led to the inability to make your payments. For example, if the death of one of the owners of the house has resulted in a lower monthly income, this would be the time to tell the lender about it. Regardless of what the reason is, you need to be specific and help them understand the problem.
- 3). Keep the letter relatively brief and get directly to the points that you intend to make. While you want to try to play on their emotions a bit and make them feel sorry for your situation, you do not want to ramble on for several pages. If you can keep the letter to one or two pages, this would be best. You want to respect the time of the person who has to read the letter and providing every last detail will not help the situation.
- 4). Include any documentation or proof that you can offer to help detail your situation. For example, you may want to include some bank statements or other financial documents that show how bad your situation is. The lender will be more likely to approve your loan modification if you can show some type of proof that you are in financial trouble. Anyone could write a letter, but if you have proof, the lender will be more willing to work with you.
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