hardship letter to stop foreclosure, hardship loan modificationIf you are behind on your mortgage payments, you can write a hardship letter to stop foreclosure after you have talked to your bank about getting a hardship loan modification. There is a great debate in this country about Obama's new plan to help millions of homeowners out with their mortgages. The need for the government to step in and help people with their mortgage problems is pretty clear, since all the foreclosures started this economic slide. If the government can stop more people from foreclosures, which hurt everyone, then it's wise to use its power and money to do so.

If you are a homeowner upside down in your home and have lost an income stream, then writing a financial hardship letter to keep your home is a good idea. You have a lot invested in your home, and being able to afford it is important. If your bank is willing to work with you on a hardship loan modification, send them your hardship letter to stop foreclosure. Over time, you'll be glad you hung in there, and got help to keep your home and help the economy.