The idea of a mortgage late payment goodwill letter may seem daunting, but it can be an effective way to get your lender to forgive one or more late payments. This article will provide a step-by-step guide on how to craft a persuasive and successful goodwill letter, as well as tips for improving your chances of getting your lender to accept the request. We’ll also cover the potential consequences of not taking action when you fall behind on your mortgage payments and how a goodwill letter could help you avoid them.
[Date]
[Lender Name]
[Address]
Re: [Your Account Number]
To Whom It May Concern,
I am writing this letter to explain the circumstances that led to my recent late payment on my mortgage. Unfortunately, I recently experienced a period of financial hardship due to [reason for hardship]. This caused me to be unable to make my full mortgage payment on time.
I understand that this is not an excuse for my late payment and I sincerely apologize for any inconvenience this may have caused. I am writing this letter to request your understanding and forgiveness in the matter. I have since stabilized my finances and am now able to make timely payments on my mortgage.
I appreciate your consideration in this matter and would be grateful if you could forgive my late payment or remove the associated fees. If there is anything else I can do to resolve the issue, please let me know and I will be happy to do so.
Thank you for your time and consideration.
Sincerely,
[Your Name]
A mortgage late payment goodwill letter can be a useful tool for borrowers to try and get their credit score back on track. It is important to remember that lenders may not always respond positively to a goodwill letter, but it is worth the effort. It is also important to remember that lenders may not always report the positive outcome of a goodwill letter, so it may be beneficial to monitor your credit score closely after submitting one. While there are no guarantees that a goodwill letter will work, it can be an effective way for borrowers to try and improve their credit score and get back on track with their mortgage payments.
