Hardship letters are necessary especially for extreme financial instability. Here is an example of a hardship letter that can help you deal with your Mortgage Company or bank.
August 23, 2009
345 James Avenue, Phoenix, AZ
Mortgage Company: EZ Mortgage
Loan no.: 999999-0000
To Whom It May Concern:
I am writing this letter to explain why I have fallen behind my payments. The main reason for my delinquency is my failed business. My situation has led me be financially drained and I have used up all my assets to cover my damages. I am doing my best to be financially stable again but as of now, I believe that I am almost reaching extreme poverty.
I am fully aware of my monetary obligations with your company. I hope that you could understand my situation and adjust my loan. I will pay it as soon as I can recover from financial crisis.