A “Sample Letter To Request to Defer One Mortgage Payment” is a formal request. It asks your lender to postpone your next mortgage payment. People write it when facing temporary financial hardship. This could be due to job loss or unexpected expenses.
Need to ask your lender to defer a mortgage payment? Writing the perfect letter can feel daunting. Don’t worry, we’ve got you covered!
This article provides sample letters. These samples will help you craft your own request. Use our templates to make the process easier. We aim to simplify a stressful situation.
Sample Letter To Request Defer One Mortgage Payment
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Mortgage Company Name]
[Mortgage Company Address]
**Subject: Request to Defer Mortgage Payment for [Month, Year] – Account Number: [Your Account Number]**
Dear [Mortgage Company Contact Person or Department],
I am writing to request a deferral of my mortgage payment for the month of [Month, Year]. My mortgage account number is [Your Account Number].
I am experiencing a temporary financial hardship due to [Briefly explain the reason for hardship, e.g., unexpected medical expenses, temporary job loss, etc.]. I anticipate this situation will be resolved by [Date or timeframe].
I understand that deferring my payment may result in additional interest or fees, and I am prepared to discuss repayment options to address these costs. I am committed to fulfilling my mortgage obligations and intend to resume regular payments in [Month, Year].
I would appreciate it if you would consider my request. Please contact me at your earliest convenience to discuss this matter further. I can be reached at [Your Phone Number] or [Your Email Address].
Thank you for your time and consideration.
Sincerely,
[Your Signature]
[Your Typed Name]
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How to Write a Letter To Request Defer One Mortgage Payment
Subject Line: The Clarion Call
- Begin with a subject line that’s both perspicuous and urgent.
- Example: “Request to Defer Mortgage Payment – [Your Name] – Account Number [Your Account Number]”
- Clarity preempts confusion, ensuring your missive receives prompt attention.
Salutation: A Respectful Overture
- Address the recipient with due deference.
- “Dear [Mortgage Company/Bank Name] Loan Servicing Department,” is a solid, professional choice.
- If you know a specific contact, by all means, utilize their name; it personalizes the entreaty.
Introduction: Setting the Stage
- Identify yourself clearly and concisely. State your name, address, and mortgage account number.
- Example: “I am writing to request a deferment of my mortgage payment for the month of [Month, Year]. My name is [Your Name], and the property address is [Your Property Address]. My mortgage account number is [Your Account Number].”
- This establishes the context for your supplication.
Body Paragraph 1: Expounding on the Exigency
- Articulate the reason for your request with candor and specificity.
- Detail the circumstances that have precipitated this need. Job loss? Medical emergency? Unexpected repair costs? Lay it bare.
- Example: “Due to an unforeseen medical emergency, I have incurred significant expenses that have temporarily constrained my finances.”
- Avoid ambiguity; clarity is key.
Body Paragraph 2: Proposing a Path Forward
- Outline your plan for rectifying the situation and resuming regular payments.
- Demonstrate fiscal responsibility and a commitment to honoring your obligations.
- Example: “I anticipate being able to resume regular payments in [Number] months. I am actively seeking additional income streams and exploring options to mitigate future financial strain.”
- Offer a concrete strategy, not mere platitudes.
Closing: A Grateful Denouement
- Reiterate your gratitude for their consideration and willingness to work with you.
- Offer to provide any additional documentation or information they may require.
- Example: “Thank you for considering my request. I am available to provide any additional documentation you may need. I can be reached at [Your Phone Number] or [Your Email Address].”
- End on a note of optimism and cooperation.
Signature: Sealing the Deal
- Close with a formal salutation: “Sincerely” or “Respectfully.”
- Include your typed name and signature.
- A handwritten signature adds a touch of authenticity.
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Frequently Asked Questions: Deferring a Mortgage Payment
This section addresses common inquiries regarding the process of requesting a mortgage payment deferral.
Understanding your options can help you navigate financial challenges effectively.
What is a mortgage payment deferral?
A mortgage payment deferral allows you to temporarily postpone making your mortgage payments, usually for a set period.
How do I request a mortgage payment deferral?
Typically, you must contact your lender and submit a formal request, often in writing, explaining your financial hardship and providing supporting documentation.
What information should I include in my deferral request letter?
Your letter should include your loan number, property address, a clear explanation of your financial hardship, the length of deferral you are requesting, and your contact information.
Will deferring a payment affect my credit score?
Deferring payments can potentially affect your credit score, depending on the terms offered by your lender and how they report the deferral to credit bureaus. Contact your lender to understand potential impacts.
What happens after the deferral period ends?
After the deferral period, you will typically need to repay the deferred amounts. Options may include a lump-sum payment, increased future payments, or an extension of the loan term.