SAMPLE LETTERS

Sample Foreclosure Letters and Legal Forms

SaveTheCave not only teaches you everything you need to know about the Foreclosure Process, we also provide several different types of Sample Foreclosure Letters and Legal Forms to help you once you decide on a foreclosure plan.  Use SaveThe Cave.com to Stop Foreclosures

If you’ve decided to handle things yourself or can’t afford to hire a professional, you can use the Sample Foreclosure Letters and Legal Forms we’ve prepared to help guide you through the process.  Regardless of whether you hire a professional or proceed on your own, make sure to learn everything you can about the foreclosure phases and foreclosure process overall before deciding which foreclosure option is best for you.

Read More About Foreclosure Options

Documents to Defend Your Own Foreclosure Lawsuit

Although each state’s foreclosure and procedural laws vary widely, you typically need to respond to a foreclosure lawsuit within 20 or 30 days. Respond generally means you can file a Motion for Extension of Time or Motion to Dismiss the lawsuit before filing an Answer or you can file your Answer and Affirmative defenses containing many of the same issues raised in a Motion to Dismiss.

To help guide you through the information needed to defend your own foreclosure lawsuit, we’ve prepared and continue to add Sample Foreclosure Answers, Affirmative Defenses, Motions, Counterclaims and Discovery to use depending on your case that you’ll simply need to modify to reflect your situation. The documents are provided solely as examples and may not comply with your state’s procedures so be sure to check with your local Clerk of Court or law library for help in meeting your state’s requirements.

Sample Foreclosure Answer 

Sample Short Sale Documents and Short Sale Options

Once you’ve reviewed our Short Sale discussion in detail, you need to decide whether to hire a professional or do it yourself.  For some, it may be easier to hire a realtor with Short Sale experience who can help find you find potential buyers and assist in gathering supporting materials to convince the bank that you have an underwater mortgage. There should be no upfront costs to you as the realtor only gets paid if and when the Short Sale is approved and completed.

 More On Foreclosure Short Sales

If you’ve decided to handle the short sale on your own, try to find a buyer willing to commit to the short sale process before asking the bank for short sale permission. Although not mandatory, the easier you make it for the bank the faster they’ll respond and the more likely they’ll approve it.

To get the ball rolling, use our Sample Short Sale Cover Letter and Sample Hardship Letter together with information on whether and by how much your mortgage is underwater.Underwater Mortgages  The bank will then let you know what additional information is required and be sure to call them weekly for status so they don’t forget you.

Sample Short Sale Cover Letter 

Sample Short Sale Hardship Letter

You can also use online services for a very reasonable low price to help you both locate potential buyers and list the property for sale.

One of the better online services we’ve seen to help you with a short sale of your property is Wholesale Realty Depot.Com which includes form contracts and other important documents in addition to providing resources to list your property and locate potential buyers.

Sample Loan Modification Documents and Options

If you’ve decided that a Loan Modification is the best way to avoid foreclosure, you have two ways to proceed. The first is to contact and work with your lender or another bank on your own, and the second is to work with an experienced mortgage broker.

If you hire a licensed mortgage broker to help with a modification of your existing loan or getting a new loan to replace your existing mortgage, you don’t have to pay any upfront fees or costs as the broker only gets paid if and when you get a modification or new loan. In fact, in many states including Florida its illegal to charge upfront fees for loan modifications.

See Why Florida is Ground Zero for Foreclosures

Loan modifications with your existing lender are relatively straightforward and you can easily proceed on your own if you’d rather not hire a broker to work with you. To get started, use our Sample Loan Modification Cover Letter and  Sample Financial Hardship Letter and work with the bank from there. Make sure you understand who’s involved in the process by reviewing our Foreclosure Loan Modification section and be prepared to document that your loan is underwater to help convince the bank that a loan modification is best for both sides. More on Loan Modifications and How to Find Out if You Have an Underwater Mortgage

Sample Loan Modification Cover Letter 

Sample Loan Modification Hardship Letter

Deed in Lieu of Foreclosure and Related Documents

Although the Deed in Lieu of Foreclosure would appear to be a no-brainer for the bank, that seems to be the problem. With brains wired solely for profit, sometimes common sense gets lost in the mix and banks actually believe they can squeeze more out of you than just handing over your home. Apparently they can’t figure out that if someone is just willing to leave their home and move on, they probably have very few options and even less resources.

What this means is that you actually need the banks permission for a Deed in Lieu of Foreclosure and its pretty much the same process we’ve outlined above for short sales and loan modifications. You’ll send a cover letter that explains what you’re trying to do and a hardship letter that justifies your decision. Use the Sample Cover Letter and Hardship Letters below as a guide for the information you need to convey to the bank, but remember to personalize it with specific details and support the request with information about your underwater mortgage.

Read More About Deed in Lieu of Foreclosure

Sample Deed in Lieu of Foreclosure Cover Letter 

Sample Deed in Lieu of Foreclosure Hardship Letter

Related Content:

Defending Florida Foreclosures

Florida Foreclosure Process

Dangers of Foreclosure Stress