Intent to Foreclosure Letter Sample Template with Examples

While an Intent to Foreclosure Letter can be a scary thing to receive, it is important to understand what it means and what your options are. 

This letter is a legal notice that a lender sends to a borrower who has fallen behind on their mortgage payments. The letter typically outlines the reason for the default, the amount owed, and the steps that the borrower can take to avoid foreclosure. 

The letter is usually sent after the borrower has missed multiple payments and the lender has attempted to contact the borrower to work out a payment plan. If the borrower does not respond or is unable to make payments, the lender will send a letter as a final warning before initiating foreclosure proceedings. 

If you receive a foreclosure intent letter, the first thing you should do is read it carefully and make note of the deadline for responding. The letter will typically provide a deadline by which the borrower must take action to cure the default. 

If you are able to make up the missed payments and bring your mortgage current before the deadline, you may be able to avoid foreclosure. However, if you are unable to make the payments, you may need to consider other options, such as a loan modification, a short sale, or a deed in lieu of foreclosure.

Sample Intent to Foreclosure Letter Template with Examples

To create an effective intent letter, it is important to use a template. This will make the process easier for both you and the bank, and it will also ensure that your letter is consistent with other similar letters that have been sent to the bank. You can find a foreclosure intent letter template on templatediy.  

One of the key benefits of a foreclosure letter of intent is that it gives the borrower time to assess their options and take action to avoid foreclosure. This is important because foreclosure can have serious consequences for both the borrower and the lender.