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The Hardship Letter For Mortgage Assistance is a critical document used in Canadian mortgage lending when borrowers face financial difficulties affecting their ability to maintain regular mortgage payments. It serves as the primary communication tool for requesting mortgage modifications, payment deferrals, or other forms of assistance from lenders. The letter should be drafted in accordance with Canadian banking regulations and provincial consumer protection laws, providing comprehensive information about the borrower's financial situation, the nature and duration of the hardship, and proposed solutions. This document is typically accompanied by supporting financial documentation and is often the first step in negotiating modified mortgage terms. It's particularly relevant in situations involving temporary job loss, medical emergencies, natural disasters, or other unforeseen circumstances that impact a borrower's ability to meet their mortgage obligations.

1. Personal Information and Loan Details: Full name, address, mortgage account number, and other identifying information

2. Current Situation Overview: Brief introduction explaining the purpose of the letter and current mortgage status

3. Hardship Explanation: Detailed description of the specific hardship circumstances causing financial difficulty

4. Financial Impact: Explanation of how the hardship has affected ability to make mortgage payments

5. Current Income and Expenses: Overview of current financial situation including income sources and major expenses

6. Proposed Solution: Specific request for assistance (payment modification, refinancing, etc.) and how it would help

7. Action Plan: Steps being taken to improve financial situation and ensure future payments

8. Closing Statement: Professional closing expressing appreciation and providing contact information