Document background
The Hardship Mortgage Letter is a critical document within the Irish mortgage arrears resolution framework, designed to initiate formal communication between borrowers experiencing financial difficulties and their mortgage lenders. This document type became particularly significant following the implementation of the Code of Conduct on Mortgage Arrears (CCMA) and the establishment of the Mortgage Arrears Resolution Process (MARP) in Ireland. A Hardship Mortgage Letter typically includes detailed personal and financial information, explains the nature and cause of financial hardship, and proposes potential solutions for managing mortgage payments. It serves as a formal request for mortgage modification or temporary payment arrangements and must be supported by relevant documentation such as the Standard Financial Statement (SFS). The letter is crucial for demonstrating compliance with regulatory requirements while seeking assistance under Irish consumer protection frameworks.
