Sample Mortgage Forebearance Letter for Businesses
Categories: Hoboken Condos
Dear {BANK},
I would like to formally request a forbearance in mortgage payments and stop the accrual of interest on the mortgage for the following months (ENTER MONTHS) equivalent to ninety (90) days for the following account:
Mortgage account number:
Mortgage Holder: Payment Date:
Payment Date
Forbearance and Non-Interest Accrual Period:
I would ask that you forbear my mortgage for the next three (3) months and add those payments on to the back of my mortgage making them due at the end of the mortgage as opposed to presently. I am respectfully requesting this forbearance as a result of the coronavirus and the economic impact that it has had on my business. Due to the virus and the associated business closings, we have lost significant revenues that have made it difficult to pay our bills. While we have worked on alternate revenue generating options, the cash is not available at the moment, and paying our mortgage would cause us to not have the funds needed to continue to generate revenue. I do not make this request lightly, and I understand that we entered into a mortgage agreement with your institution. I know that if we work together, we will come out of this together.
Sincerely,
NAME
Maybe delete the last sentence.
That’s kind of you to share it.
Agree with JOE. Last sentence does not apply here. Be Well and Be Safe! Cheers!! M.
You’re welcome. Thanks for the note – last sentence removed. Stay safe, stay home!