Bank of America claims to offer principal reductions to 200,000 homeowners, but puts several hurdles in front of eligible applicants.
You might be writing a hardship letter for any variety of reasons: loan modification, short sale, or several others. This particular article relates to writing a short sale hardship letter, but most of the hardship letter guidelines and certainly the hardship letter sample is useful for almost any type of hardship letter.
Getting short sale approval always takes persistence and dedication, but when one client's file seemed jinxed, our team had to fight back with more than our usual willfulness.
The Federal Housing Finance Agency's HARP program was detailed on October 24th 2011 and promises to help homeowners who's mortgages are underwater due to the current economic climate. President Obama is hoping this will help the homeowners avoid foreclosure and help stabilize the economy.