Desperate times call for desperate measures and when it comes to the rent, graveling a bit is not out of the question. Most people live paycheck to paycheck and when some emergency expenses arise, it can leave a family strapped for money.
Many people find themselves in a tight financial situation where they may not be able to meet their financial obligations. They may need a little time to get back on their feet, so they can continue making the payments that will pay down their debt.
A short sale is a type of real estate transaction that occurs when the seller owes more money to his or her mortgage company than what the property is selling for. Typically, this occurs when a property value has declined and when the homeowner must relocate rather than wait for home values to improve. Often, the borrower is attempting to move forward with a short sale as a means to avoid foreclosure.
Students may need to withdraw from college for a variety of reasons. Most universities allow students to withdraw if they follow the proper procedures stipulated by that institution. Hardship is the most common reason for withdrawing, and the student should begin the process by collecting documentation for why they need to leave. When they have the documentation, including any forms required by the college, they can write a college hardship withdrawal letter.
Many people find themselves in a tight financial situation where they may not be able to meet their financial obligations. They may need a little time to get back on their feet, so they can continue making the payments that will pay down their debt. When this happens, people who take a proactive approach to the situation and write a loan extension letter to certain creditors find that they often receive help. Most financial institutions and lenders have a process whereby a borrower can request additional time to repay a loan. There may be specific requirements for this that should be stated in the loan agreement.
A hardship letter for loan modification is a formal way to request a modification to a loan. This letter is the place where the borrower can express his or her financial troubles in personal terms to have the best chance to stop a foreclosure or receive better terms on an outstanding loan.