Satisfactory Lien Settlement Hardship

When attempting a 2nd lien settlement it is imperative to be able to show a true hardship paper. The lender will inspect all aspects of the borrowers financials. These documents include not short of all bank statements, pay stubs, and tax returns for all borrowers on the account. The investor on the note will take your bank deposits, your housing ratio, and credit into consideration when analyzing a borrower for a hardship. The hardship letter you write will need to check out with your financials and the story you painted, so take all factors into consideration to effectively communicate your hardship to the mortgage servicer. If the bank deems that there is no hardship and that a borrower can afford to make the mortgage payments, it may not matter how much money you they are willing to bring to the table as a settlement. Without a viable hardship the investor may not entertain a settlement on the account. It is important to paint your hardship and financial situation in the best light in a manner that strengthens your settlement case.

Satisfactory 2nd lien settlement hardships may vary depending on who the mortgage servicer and the investor on your note is.

For assistance with settling any lien or a short sale please fill out the form below.

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