Need to ask your lender for a break on mortgage payments? That’s where a “Sample Letter To Request Forbearance On Mortgage Payment” comes in. Life throws curveballs, like job loss or unexpected medical bills. This letter is your formal way to ask for temporary relief.
We know writing this kind of letter can feel daunting. Don’t worry, we’ve got your back! We are sharing ready-to-use templates and examples.
Consider this your toolkit for crafting the perfect forbearance request. Let’s make this process a little easier, together.
Sample Letter To Request Forbearance On Mortgage Payment
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Mortgage Company Name]
[Mortgage Company Address]
**Subject: Request for Mortgage Payment Forbearance – Account Number: [Your Account Number]**
Dear [Mortgage Company Contact Person or Department],
I am writing to request a temporary forbearance on my mortgage payments due to [briefly explain your financial hardship, e.g., job loss, unexpected medical expenses, reduced income]. This situation has made it difficult for me to meet my current financial obligations, including my monthly mortgage payment.
My loan account number is [Your Account Number] and the property address is [Your Property Address].
I am requesting a forbearance period of [Number] months, starting [Start Date]. During this time, I would appreciate it if you could suspend my monthly mortgage payments.
I am committed to fulfilling my mortgage obligations and intend to resume regular payments as soon as my financial situation improves. I am open to discussing options for repayment of the forborne amounts, such as a repayment plan, a loan modification, or other suitable arrangements.
I have attached [mention any supporting documentation, e.g., proof of job loss, medical bills] to this letter to support my request.
Please contact me at [Your Phone Number] or [Your Email Address] to discuss this matter further. Thank you for considering my request.
Sincerely,
[Your Signature]
[Your Typed Name]
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How to Write Letter To Request Forbearance On Mortgage Payment
Subject Line: Grab Their Attention
The subject line is your initial entreaty. Be forthright and unmistakable. Instead of a generic “Mortgage Forbearance Request,” opt for something like “Urgent Request: Mortgage Forbearance Due to Exigent Circumstances at [Your Address]”. Clarity is paramount; it signals seriousness and expedites processing.
Salutation: Polite Formality
Address the letter to a specific individual, if known. If not, use a title. “Dear Mortgage Servicing Department” is acceptable, but “Dear Mr./Ms. [Loan Officer’s Last Name]” carries more weight. Avoid overly casual greetings; this is a formal request impacting your financial well-being.
Introduction: Lay the Groundwork
The opening paragraph sets the stage. Immediately state your loan number and address. Then, unequivocally declare your request for mortgage forbearance. Briefly articulate the reason for your hardship, such as job loss, medical expenses, or unforeseen disasters. Conciseness demonstrates respect for their time.
Body Paragraphs: The Nitty-Gritty
- Elaborate on the Hardship: Provide a detailed, yet succinct, account of the circumstances leading to your financial difficulties. Quantify the impact with specific numbers where possible (e.g., “Loss of employment resulting in a 60% decrease in household income”).
- Proposed Forbearance Terms: Suggest a reasonable forbearance period, typically 3-6 months. Outline your plan for resuming regular payments after the forbearance period concludes. Be realistic; overpromising undermines credibility.
- Supporting Documentation: Explicitly mention the enclosed documentation validating your hardship, such as termination letters, medical bills, or insurance claims. A well-supported request is more likely to garner a favorable response.
Financial Snapshot: Transparency Builds Trust
Include a concise overview of your current financial situation. Note your monthly income, expenses, and any assets you possess. This transparency helps the lender assess your ability to recover and resume payments. Avoid embellishment; honesty is the best policy.
Closing: Express Gratitude and Reiterate
Express sincere gratitude for their consideration. Reiterate your commitment to fulfilling your mortgage obligations. Provide your contact information (phone number and email address) for prompt communication. A polite, yet assertive, tone leaves a positive impression.
Formal Farewell: Seal the Deal
End with a professional closing. “Sincerely” or “Respectfully” followed by your full name is appropriate. Sign the letter physically and, if submitting electronically, include a scanned signature. This final touch underscores the seriousness of your plea.
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Frequently Asked Questions: Mortgage Forbearance Request Letter
This section addresses common inquiries regarding drafting a letter to request mortgage forbearance. It aims to provide clarity on key aspects and considerations.
What information should I include in my mortgage forbearance request letter?
Your letter should include your name, address, loan number, contact information, a clear statement of hardship, the reason for the hardship, the duration of forbearance requested, and any supporting documentation.
To whom should I address the forbearance request letter?
Address the letter to the Loss Mitigation Department or the specific contact person provided by your mortgage servicer. Ensure you have the correct address for mailing.
What kind of hardship qualifies for mortgage forbearance?
Common hardships include job loss, reduced income, medical expenses, natural disasters, or other significant financial difficulties that impact your ability to make payments.
How long should I request forbearance for?
Request a forbearance period that aligns with your anticipated recovery time. Common durations range from 3 to 6 months, but you should assess your individual circumstances.
Should I send my forbearance request letter via certified mail?
Yes, sending your letter via certified mail with return receipt requested provides proof of delivery and ensures your servicer received your request.