However, after being laid off in June 2022 due to budget cuts across the school district, I have been living off of my savings and unemployment benefits, which is less than 50% of my original income as a teacher. When I was initially approved for this loan in 2019, my gross monthly income as a middle school teacher was around $4,000. I am writing this letter to request a modification on my mortgage loan due to unforeseen financial hardship. Demonstrate Your Efforts to Remedy the Situation.Illustrate the Severity of Your Financial Hardship.How to Write a Financial Hardship Letter (5 steps) Demonstrate Your Efforts to Remedy the Situation How to Write a Financial Hardship Letter (5 steps).Commonly used after a job loss, illness, death, or another unforeseen event, the financial hardship letter explains to a lender why the individual can no longer make regular payments on a mortgage, loan, rent, or any other bill. A financial hardship letter is written by an individual to request a payment extension, a loan modification, or forgiveness due to extreme financial circumstances.
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