You may need to explain what event has led to you being unable to make your loan repayments. This event could be something such as illness, loss of job, reduced income, failed business, job relocation, death of a spouse, death, incarceration, divorce or marital separation, military duty, medical bills, damage to property or any other valid reason which may have led to a person being unable to meet their mortgage repayments.
In the top left hand corner of the letter, place your name, followed by your address, your loan lender and then your loan number. In the first paragraph you should explain that you have been unable to pay your mortgage and would like to modify the loan. In the second paragraph you should explain why you have been unable to meet the payments. Thirdly, explain how your situation will be improving in the near future and a date as to when you believe you will be able to carry on with your normal mortgage repayments.
This should then be signed and if there are two names on the mortgage then both names and signatures should be included. Ensure you are thankful and appreciative in your tone so that whoever is reading the letter realises that you are not taking this service for granted because they do not necessarily have to give it to.
Attach important information such as bank statements, cash flow documents, income tax statements and letters of reference. A loan company is most likely to agree with a temporary modification of your mortgage if you offer at least a percentage of the money you were paying each month.