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Resources > Glossary > Hardship Letter 30 Day Notice

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Hardship Letter 30 Day Notice

Function: noun

In this document, the borrower agrees that they are aware that their first mortgage payment may be due within thirty days of the signing and that it doesn't create a hardship for them. There are many types of hardships that might be addressed in a hardship letter such as illness, death of a spouse, loss of a job, relocation, reduced or eliminated income in a business, death, divorce, separation from spouse, military duty, medical expenses, and damage to the property. Another form of hardship letter would be the letter a borrower writes when they can't pay their mortgage payment. In such a case, the borrower would cite the reason why they couldn't make their payment.