Writing a Hardship Letter: Questions that Sellers Should Consider

I review short sale packages for a living. It’s what I do. One part of the package that is interesting to me is the hardship letter.

In order to participate in a short sale, a borrower must have some sort of hardship. The bank actually requests a copy of a hardship letter.

The reason that the hardship letter is interesting to me is because it’s a tell—like in poker. It shows exactly where the seller is at with regard to their mortgage, their home, and even their emotional state. Some hardship letters are longer than my kids’ book reports, and others do not share enough information.

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