Learning how to write a loan modification hardship letter can significantly improve your chances of obtaining approval from your mortgage lender. The letter of hardship provides the opportunity to connect with bank loss mitigators on an emotional level while explaining events that caused your financial hardship.

When writing the loan modification hardship letter it is important to take time to organize your thoughts by creating an outline of events, along with any measures taken to rectify the problem. For many people, financial challenges include unemployment, divorce, death of a spouse, and chronic health problems.

While there is no established protocol for writing financial hardship letters, certain strategies can be implemented to improve your chances of success. It is important to realize that there is no guarantee you will be approved for a loan modification based solely on the hardship letter. However, you should take full advantage of the opportunity to reach out to your assigned loss mitigator through the words you place on paper.

While conducting research for my book, Short Sale Hardship Letter eBook Course, I had the opportunity to interview bank loss mitigators, mortgage lenders, and real estate lawyers. The one thing each of these professionals agreed upon was that handwritten letters of hardship are better received than typed letters. With that being said, the debt hardship letter must be easy to read. Borrowers with poor handwriting should ask someone else to write out the letter. Only use a typewriter or word processing program as a last resort.

Mortgage lender hardship letters should be succinct while providing sufficient information to help loss mitigators comprehend the circumstances that led to financial challenges. Keep in mind loss mitigators are responsible for multiple duties. In addition to handling loan modification requests, loss mitigators also deal with mortgage refinance, forbearance agreements, foreclosures and short sale transactions. They do not have time to read lengthy letters of hardship.

Always stick to the facts when writing the loan modification hardship letter. Explain your plan for staying on track with future mortgage payments. Include measures taken to rectify financial problems. If you received a raise, taken a part time job or received inheritance money, include this information in the letter of hardship.

Borrowers in need of a loan modification should investigate the Making Home Affordable program. This government sponsored program is available to homeowners who are current with mortgage payments and have not been delinquent with payments by more than 30 days in the previous twelve months.

Homeowners must submit Home Affordable loan modification request to their lender prior to the December 31, 2012 deadline. Program details and eligibility requirements are presented at MakingHomeAffordable.com.

If homeowners do not qualify for Making Home Affordable loan modification or mortgage refinance programs, they may qualify for the foreclosure alternatives program. This program offers homeowners the option of entering into deed in lieu of foreclosure or short sale agreement in order to be released from their mortgage loan.

It is crucial for homeowners to conduct research and become familiar with mortgage loan options. In addition to loan modifications and mortgage refinancing, lenders might offer forbearance agreements, the option to short sale, or deed in lieu which allows borrowers to return their home to their lender and walk away. Taking time to gather facts allows homeowners to make informed decisions about their most valuable asset.

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Author and real estate investor, Simon Volkov has helped hundreds of distressed homeowners learn how to write a professional loan modification hardship letter. Simon provides a comprehensive real estate and investing library via his website at https://www.SimonVolkov.com.

 

Posted by on September 4, 2011 at 1:44 pm under Cover Letter Writing.
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Sending a thank you letter is as important as interview preparation. But they’re tough to write, so people either tell themselves that not sending one doesn’t matter, or they procrastinate until it’s too late and almost pointless anyway. But anyone who tells themselves that foregoing a fundamental rule of etiquette doesn’t matter, not only taints themselves in the mind of the interviewer, but misses two additional opportunities to sell.

A thank you letter is an additional sales piece. As I’ve said before, you’re selling a product and the product is you. So beyond the reason of etiquette, the letter sells you as a polite person who recognizes that the interviewer gave them something valuable: time and consideration.

A fundamental rule of sales is to keep the product in front of the buyer and reinforce its benefits. So beyond the etiquette, the letter gives you ample space to comment on what you liked about the company, why your skills are of benefit to them, and how much you’re interested. If something wasn’t tied up, or was left unsatisfactorily, you should use the space to further address the issue.

When you miss the opportunity to reinforce your skills and tie them to the job requirements, you miss a chance to sell. When you fail to address a concern or answer a question and leave it to fester in the mind of the interviewer, you’ve failed to overcome an objection. And if a buyer has an objection to the product, if it isn’t addressed, the likelihood of the sale is slim.

The third opportunity missed by skipping the thank you letter is the chance to keep your name in front of the buyer. Read newspapers? Watch TV? See the same ads over and over and over again? It’s somewhat the same principle - if you keep your name in front of the hiring authority, they’re more likely to remember you.

Thank you letters are one of the reasons it’s important to take notes during an interview. Not only does it show good attention to detail, it saves you from having to scrunch your face up trying to remember some of the information you learned about the company and position during the interview. Because if you met with three separate people during one visit to the company, that’s three thank you letters….three different thank you letters.

So let’s look at how to create one of these so that it becomes a less odious task.

  • First paragraph Open with the obligatory thank you and include how you enjoyed the meeting. Say why. Maybe the people you met were exceptional. Perhaps their company philosophy was exactly what you had hoped for. Or they need to overhaul a department and you can’t wait to sink your teeth into it because that’s what you’ve got a stellar track record of doing. It doesn’t matter. Pick something out, and put it down. But make it real.
  • Second paragraph What took place during your interview? Pull out a piece of information that pleased you, say what it was, and tell them why. For instance: I was particularly pleased to find that X company/the opportunity/your management style has/was/is/does whatever. This is exciting because…… . You can expand on whatever it is for a few sentences by elaborating: how it relates to something you’ve experienced and liked — or didn’t like. Discuss a particular aspect of the job you find appealing and reiterate why you’d be successful at it or how long you’ve been performing it or how similar it is to something you’ve done in the past.
  • Third paragraph You can add a similar paragraph if the second was fairly short. Or you can wind it up if it was a bit lengthy. If there was something that came up that needed clarification or about which they were dubious, address it and clear it up here.
  • Fourth paragraph Wind it up. Re-iterate your interest. Be enthusiastic! Leave the job speak behind. If you really want to be hired, let your interest shine through. There’s nothing wrong with coming right out and saying, “I’d love to work with X company!”

Caution: Don’t start every sentence with “I”. It may be the easiest way to write the letter but it’s not only repetitive, it’s a turn off and egotistical. This process is about you getting a job, but it’s about what they get out of it if they hire you. 

If you really want the job, the letter will be easy to write because it will contain genuine impressions and sentiments. If you choose to skip the letter, perhaps you don’t care if you’re hired or not. But make that decision yours and withdraw from the process instead of letting the decision be made for you.

Prior to starting her firm, VisionQuest, Judi Perkins was a search consultant for 25 years in both the contingency and retained market, including a short stint in the temporary and local permanent placement markets. She has owned her own firm and successfully assisted numerous repeat clients in hiring all levels of management. To sign up for her newsletter and learn thousands of powerful concepts to find your perfect job go to https://www.findtheperfectjob.com.

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Posted by on September 4, 2011 at 1:41 pm under Cover Letter Writing.
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If you are someone from the Human Resources department and you have received 100′s of application for a job post, then what will determine as to whom you will call for interview? Well this will be based on the first impression that has been created.

The first impression, because you haven’t met the person would mean that how the resume and the cover letter that you have sent are.

The first impression is very important it may also mean that here the rejection and the selection would also happen.

So let us understand the overall process and the format.

The resume cover letter is very much like any business letter.

Be careful about the following:

1. Write your name and address on the top of the envelope. The format on the cover letter should be same as that of the resume. Even the font size and color should be exactly the same.

2. Also mention the recipient’s name and designation with the necessary details.

3. Write on the bottom of the envelope about the enclosures. Give a heading of enclosures and write what all is enclosed inside the envelop

Along with what is on the cover letter, one more thing that is important is what is in the letter. This forms the major part of the texts that is most significant.

The letter would be structured well and will have 3 sections in the form of 3 paragraphs

1. Introduction

The first paragraph is the introduction paragraph. This should summarise the main objective of writing this letter. This should be short and brief but at the same time, well informative.

Also here the position for which you have applied should be clear. What your have written here will be carried on in details in the paragraphs to come.

2. Body

The body of the cover letter forms the largest section of the letter. It will talk in elaborate form as to you what is it that is your primary as well as the other objective.

There you might highlight a point or a two that is most important so that it is emphasized and it stands out well.

The length will range from half a page to almost one full page.

3. Closing

The closing of the letter would be made in the third paragraph.

This will talk about the call for action and will also explain the actions and initiatives that you are expecting after the letter is read. But all of this will have to be made politely and humbly.

Repeat your details here.

About your resume

While writing the resume the following are the major points that have to be kept in mind.

They are:

1. It has to be brief but at the same time well informative.

2. All the information, which includes the education qualification, as well as the achievement, should necessarily be in chronological order.

3. There should be no grammatical or spelling mistake. Get is checked by someone else.

4. Write only that information for which you can produce evidence. Don’t talk about an achievement of an event, where in you have already lost the certificates.

5. Check the alignment of the different paragraphs.

6. Let it be fact based and not be in a praising tone.

Visit our site and learn how to write cover letter and professional resumes.

Article Source: https://EzineArticles.com/?expert=Jeffrey_Raudzus

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Posted by on September 4, 2011 at 1:40 pm under Cover Letter Writing.
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