353,Miami Beach Road,Miami
The Mortgage Manager,
Housing Dev.Bank, Casa Blanka, Miami 47654
Loan Account No.8765
As you might be aware, I was employed with Maritime Consultancy Services as Manager. To acquire my aforesaid house you had sanctioned my loan.
Circumstances, of late, have changed since then when I had to encounter furlough in my job resulting in unemployment and consequently my only resource of survival too has vanished with my credit card bills worth $1000 still remains to be paid. Under the current situation, I am left with no money to pay my mortgage and I still love my house with no idea of selling the same at any cost now or in future. I therefore, approach you for a loan modification so that the loan becomes affordable which will help me repay the debt.
I believe the current situation is temporary with me able to secure either a job or a business which I am working on so that I am not in any kind of uncertainty for long and therefore, I am confident of tide over the crisis in a short span of time.
If however, loan modification is not viable according to you and my present status and financial position besides your estimation of my unlikely to tide over the situation in the near future, then I presume short sale could only be the option available to me in which case I would like you to work out a system accordingly. I have already tried to sell the property and found the same is now fetching half of that I spent. I would, nevertheless, wait for your suggestion before I venture to do anything further.
Very truly yours