This is the second of two letters you can use as guides when writing your own letter in support of a short sale or loan modification. (You can find the first letter here.) They are provided to get you started. Use a short sale letter when a buyer makes an offer on your house, but the offer is less than you owe.
[Name and Address of your lender]
Attention: Loss Mitigation Department
Re: Loan _____________________
Dear Sir or Madam:
As you are aware, I have not made payments on the above-reference loan for the last ____months. I am providing this letter to explain my circumstances and to ask that you accept a short sale of my house.
My husband left me six months ago for another woman. At first, he sent money for me and our three children and helped out with the house payment. He works for the electric company and three months ago he tried to rescue a cat and touched a live line. Now he is on permanent disability and can’t send me any money. His girlfriend left him and he needs financial help from me. I work at the cosmetic counter at Nieman Marcus and the $3,500 I make each month barely covers our basic living expenses.
I put our house up for sale as soon as my husband stopped sending me money. It’s listed with ___________ Real Estate Company. My agent is _______________ and her phone number is __________________. I have enclosed an authorization allowing you to speak with her. [Note: your agent will be able to provide you with an authorization form.]
We listed the house for $250,000 which is what we owe you. In the last three months we have had one offer. Unfortunately, the buyer has only offered $210,000. I am asking you to forgive the $40,000 difference and to accept the $210,000 (less commissions and escrow expenses) as payment in full on the note. If you can do that I will be able to avoid foreclose and bankruptcy. My agent says she will accept a reduced commission if necessary to facilitate this deal.
Are you wondering how to write a letter requesting a deed in lieu of foreclosure? I’ve written a sample for you to follow!
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